The Mexican peso has appreciated by 0.22% and will end the month on a positive note.

The Mexican peso is trading with gains on Thursday morning, the last day of February. The local currency is appreciating following the release of a key inflation figure for the Federal Reserve (Fed), which came in line with analysts’ expectations, setting the stage for a positive month.

The spot exchange rate is positioned at the level of 17.0742 units. Compared to yesterday’s official close of 17.1116 units per dollar, according to the official data from the Bank of Mexico (Banxico), the pair shows a positive change for the currency of 3.74 cents or 0.22 percent.

The dollar’s price is fluctuating within a range, with a maximum of 17.1105 units and a minimum level of 17.0613 units. The Dollar Index (DXY), from the Intercontinental Exchange, which measures the US dollar against a basket of six currencies, is down 0.02% at 103.95 points.

Consumer spending, which accounts for more than two-thirds of economic activity, rose 0.2% on a seasonally adjusted basis in January, the US Department of Commerce said. The data was in line with expectations and much better than December’s 0.7%.

Throughout February, the dollar has lost ground in the market as investors seek signals on when the Federal Reserve might begin to lower interest rates. Compared to January’s close of 17.1336 units, the local currency gains 5.94 cents or 0.35 percent.