The Mexican peso registered an advance against the US dollar on Monday morning, reaching a new highest level in seven years, oscillating with a maximum price of 17.3239 units and a minimum of 17.2413 units. This increase occurs in a market that is awaiting important economic data and relevant information on monetary policy that will be released this week.
“The explanation to understand the appreciation of the exchange rate is not predominantly our interest rate differential with the United States, perhaps in the margin can influence (...) I think it has helped, but it is not the main factor”, explained the representative of the Mexican central bank.
It is important to note that the strength of the Mexican peso cannot be attributed primarily to the interest rate differential between Mexico and the United States. Other factors such as the sending of remittances, foreign tourism and changes in foreign investment have contributed to the recovery of the peso against the dollar so far this year.