Dollar/Peso trades at its lowest level since mid-September

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The dollar reported this Friday its lowest price since the middle of last month , after indicators that show a sustained advance in manufacturing activities in Europe.

The currency has fallen 25 cents in two days and is sold this morning at 21.29 pesos at the CitiBanamex windows, the lowest price since September 17 , when it was exchanged at 21.27 units.

The currency is exchanged at 21.15 units at BBVA, at 21.20 at Banorte and at 21.70 pesos at BanRegio.

In wholesale operations, the exchange rate continues to trade at less than 21 pesos per dollar and reached 20.86 units earlier, indicate figures from the Bloomberg agency.

“The peso saw momentum after the publication of the PMI indicators (Purchasing Managers Index) for Europe, which show a sustained advance in manufacturing during October, despite the fact that the services sector is slowing down due to the advance of the pandemic, “says Gabriela Siller, chief economist at Banco Base.

Last night, during the second and final debate between President Donald Trump and Democratic candidate Joe Biden for the US presidency, the peso was almost unchanged against the dollar.

Trump performed well in the final and civil debate, but was not good enough to move the electoral needle , said Edward Moya, a senior market analyst at Oanda.

Biden had no major slip-ups, although some argue that his statement on oil was an unforced error . The Democrat did a good job of keeping his lead intact.

“President Trump is likely to see an increase in the polls, but with almost a quarter of the vote and the number of undecided voters in the single digits, Wall Street may continue to trade for a Biden win,” Moya opined from New York.

Source: banxico.org.mx

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