Bank of Mexico (Banxico) closed this Wednesday, September, 11th with the dollar spot, reference between banks, in 19.5575 pesos. It rose 4.55 cents, equal to 0.23%.
Citibanamex quoted at the close the green ticket in windows in 19.85 pesos, above 19.80 on Tuesday's cut.
BBVA said the dollar this afternoon returned to the 19.99 pesos.
The Mexican currency succumbs to the strength of the dollar and the decline in oil prices; The bank window is sold in 19.85 units. https://t.co/X1v7jTxKUH
– El Financiero (@ElFinanciero_Mx) September 11, 2019
El Financiero said that the Mexican currency "faced a complicated external scenario on Wednesday, due to the advance of the dollar and the decline in oil prices."
In the case of a basket of ten currencies, the dollar gained 0.19% in value by capitalizing risk assets due to the expectation that the European Central Bank announce on Thursday the reduction of its reference rates and in turn a new round of bonuses.
On the day the euro fell against the Mexican currency by that factor. From 21.5642 pesos on Tuesday, it went to 21.5172 pesos today, according to Banxico.
The ECB rate is negative, with -0.40%, well below the US Federal Reserve (Fed) reference in the range of 2.25 and 2.5 percent.
Donald Trump, US president, urged the Fed to lower the rate to "zero, or less," in the context of the slowdown in the global economy.
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