He Mexican weight it became this Monday the most depreciated currency in the world due to investor fears about the economic implications of the coronavirus pandemic, the discussion on the reform of the Bank of Mexico law and after the president Andrés Manuel López Obrador reported positive results on COVID-19.
The parity was located this morning at 20.21 pesos per dollar, a loss of the national currency of 1.2% or 24 cents compared to the close on Friday, they show the wholesale prices of the Bloomberg agency.
It means the worst weight level from January 11th, when sometimes that day it reached 20.27 units per dollar.
At retail, CitiBanamex sells the dollar at 20.66 pesos, 25 cents more expensive than on Friday.
The Mexican peso is the most depreciated currency due to global fears of COVID-19 and a greater perception of risk to the country due to the discussion on Banxico law reform, said Gabriela Siller, chief economist at Banco Base.
Yesterday, HSBC chief economist Alexis Milo said Sunday afternoon’s weight loss coincided with the announcement that President López Obrador had COVID-19, news reported at 6:30 p.m.
The BMV loses
The Mexican Stock Exchange (BMV) is also reporting losses on Monday and is hitting it the lowest level since December 31.
The main stock market indicator stood at 44 thousand 347 points, a decrease of 0.8% compared to Friday and represents the fifth consecutive day down.
It is the longest negative series since August 2020, when the Mexican stock market also tied five sessions in the red, between 18 and 24 that month.
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