The Mexican peso starts March with losses

The peso starts March with losses in the spot market due to mixed economic indicators in the world.

The Mexican peso starts March as it ended February: with losses.

The national currency gives ground to the US dollar on Friday for mixed economic indicators in the world and local news that can cloud the picture if they ignite fear of risk, such as the airport issue and labor disputes.

In bulk, the dollar is sold at 19.2566 pesos, which means a depreciation of 0.11% for the national currency compared to the previous official closing, indicate data from the Bank of Mexico (Banxico). In February the peso lost 0.78% and cut a two-month streak of gains.

In bank windows, the green ticket is sold at 19.55 pesos, unchanged from the last price of the day on Thursday, and the purchase operates at 18.70 pesos, according to the quote of Citibanamex.

“Internally, news persists with the potential to generate risk aversion,” said the director of Economic-Financial Analysis of Banco BASE, Gabriela Siller, in a report.

Among those news are: an increase in labor disputes in the country with a possible strike at Walmartand a warning from the global aviation industry that operating three airports in the capital of the country as planned by the government will not solve the problem of saturation.

The labor conflicts and the theme of the airport would have repercussions on the economy of the country, according to Banxico and the International Air Transport Association (IATA) respectively.

Internationally, the release of China’s manufacturing PMI in February was interpreted as an improvement in industrial optimism. Although the retreat of private income and the drop in private consumption in December in the United States are unfavorable signs for economic growth, Siller explained.

Source: Expansion

The Mazatlan Post

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