The Mexican peso strengthened against the U.S. dollar this Friday morning, advancing in the last session of the month as investors assess the approval of a constitutional reform in the Senate and amid a decline in the greenback.
The spot exchange rate stood at 20.3558 pesos per dollar, compared to the official close of 20.4300 pesos yesterday, according to data from the Bank of Mexico (Banxico). This movement signifies a gain of 7.42 cents for the peso, equivalent to a 0.36 percent appreciation.
The dollar traded within a range between a maximum of 20.4755 units and a minimum level of 20.3704. The Intercontinental Exchange’s Dollar Index (DXY), which compares the greenback to a basket of six major currencies, fell 0.10% to 106.03 points.
“Today, the peso shows volatility after evaluating the approval of the reform that extinguishes autonomous bodies, although it maintains an upward slope due to less nervousness around a possible trade war with the United States,” highlighted financial group Monex.
Despite experiencing a strong setback earlier in the week following threats to impose tariffs of 25% on Mexican products, the currency is on track to close the week with a slight cumulative advance.
