CITY OF MEXICO. -The dollar has slowed to its lowest level in a month, despite the Federal Reserve (Fed) of the United States boosting economic prospects.
In major operations, the cambic type is down 20.31 pesos per dollar and means the highest level of the Mexican currency since 19 February, when it was set to be 20.25 units.
This equates to a gain of 1.4% or 30 cents on Monday rates, as well as an accumulated appreciation of 5.6% or 1.20 pesos from the weeks of the previous week, in agreement with the Bloomberg agency.
On the menu, the dollar pays in less than 21 pesos for the first time since February 24th. CitiBanamex sells the division 20.81 pesos and accumulates a decrease of 1.13 units from the principles of the previous week.
The dollar balance is related to the expected updates that the Fed announced later.
The most influential central bank in the world suggests that interest rates in the United States will rise to 0% by 2023, while lowering its inflation forecasts and economic growth for Mexico’s main commercial society.
The President of the Fed, Jerome Powell, also said that the Central Bank will share an update of the banking liquidity standard in the “next days”.
At the beginning of the pandemic, an extension to the “supplementary liquidity ratio” was introduced to encourage the large banks to perform and respond to bonus markets and short-term financing.