The Mexican peso recorded a weekly decline of 2.6% against the dollar.
The local currency experienced its worst weekly performance since the local election. Investors are considering the potential impact of a Donald Trump victory in the upcoming U.S. elections.
The Mexican peso fell on Friday, with markets focused on the U.S. electoral race. The currency marked its fourth consecutive decline, according to central bank data, in its worst weekly result since the local election.
The exchange rate ended the day at 18.0825 per dollar. Compared to yesterday’s close of 17.9788 pesos, based on the official data from the Bank of Mexico (Banxico), this represents a decrease of 10.37 cents, or 0.57 percent.
The dollar traded within an open range, with a high of 18.1089 and a low of 17.8227. The U.S. Dollar Index (DXY), which measures the greenback against a basket of six currencies, rose 0.19% to 104.37.
For the week, the peso fell 46.02 cents, or 2.61 percent, from last Friday’s close of 17.6223. However, since June, when it was at 18.2862, it has recovered 20.37 cents, or 1.11 percent.
Investors are wary of the possibility that Republican candidate Donald Trump, who officially accepted his party’s nomination yesterday, could return to the White House, while President Joe Biden’s candidacy for a second term raises questions.
Several U.S. political figures, including former President Barack Obama, have expressed doubts about Biden, aged 81, continuing his campaign. Meanwhile, Biden is currently resting after testing positive for COVID-19.
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