Mexican pesos nosedives to $20.05 pesos to the USD

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This after Donald Trump announced the imposition of 5% tariffs on all products made in Mexico.

For the first time since the beginning of the year, the dollar today rose by more than 20 pesos on sale, after US President Donald Trump announced yesterday the imposition of 5% tariffs on all products made in Mexico. that are sold in your country, from June 10.

The Citi-Banamex bank started operations selling the currency at 20.05 pesos at retail, being the first time offering the dollar in more than 20 units since last December 26.

It is a rise of 60 cents compared to yesterday, when the dollar ended at 19.45 pesos on sale.

In wholesale operations, the dollar is trading at 19.76 pesos, 61 cents more than on Thursday, according to figures from Reuters.

The president of the United States warned about the possibility that tariffs against Mexico will increase, in a staggered way, to 25% on October 1, in case the Mexican government does not stop the illegal migration to the American Union.

President Andres Manuel Lopez Obrador sent Foreign Minister Marcelo Ebrard and other officials to negotiate Washington, while Jesus Sede, of the Ministry of Economy, has said that countervailing duties will be imposed in case Trump carries out his threats.

Source: elimparcial

The Mazatlan Post