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The Mexican peso experiences a slight appreciation during the US holiday.

Gabriel Micillo•Monday, February 19, 2024•2 min read

The Mexican peso experiences a slight appreciation during the US holiday.

The Mexican currency ended Monday’s trading session unchanged, in a day of little activity marked by a halt in US markets for Presidents’ Day.

The Mexican peso saw little change against the dollar at the beginning of the week. The local currency ended Monday’s trading session unchanged, in a day of little activity marked by a pause in US markets for Presidents’ Day.

The exchange rate ended the day at 17.0419 units per dollar. Compared to a close of 17.0490 units on Friday, according to official data from the Bank of Mexico (Banxico), the peso’s movement represented a marginal improvement of 0.04%, which was less than a cent.

The dollar price traded within a narrow range, reaching a high of 17.0725 units and a low of 17.0307 units. The Dollar Index (DXY) from the Intercontinental Exchange, which measures the dollar against a basket of six reference currencies, was down 0.03% at 104.26 points.

Financial markets remained closed in the United States for the Presidents’ Day holiday, which honors George Washington and Abraham Lincoln. The break reduced trading volume, preventing significant changes in currency prices.

Traders are gearing up to receive relevant economic information this week, with the minutes of the Federal Reserve (Fed) meeting being the main point of focus due to the market’s desire for the central bank to potentially lower its interest rates soon.

Regarding the Mexican stock market, the BMV (Bolsa Mexicana de Valores) closed with gains in a session characterized by low trading volume.

The Mexican stock exchanges concluded Monday’s trading session with modest gains. In a day characterized by erratic movements and limited trading volume due to Wall Street’s holiday, local indices experienced increases, with Coca Cola Femsa leading the upward trend.

The key S&P/BMV IPC index on the Mexican Stock Exchange (BMV), representing the 35 most actively traded local stocks, rose by 0.63%, reaching 57,490.05 units.

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Gabriel Micillo
Gabriel is a certified public accountant graduated from UNNE (National University of the Northeast, Argentina) and a software developer, currently pursuing a Master's degree in Finance and Economics. With nearly 8 years of experience working for accounting firms and brokerage firms. Concurrently, he has produced economic and financial reports on the current state of regional economies for the clients of the establishments where he has worked. Additionally, he assisted colleagues like Ignacio Teson in the drafting and editing of articles on similar topics in English language.
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