Puerto Vallarta, Mexico – The Mexican peso opened at 20.44 pesos per US dollar in international markets, marking a depreciation of 0.17% or 3 cents compared to the previous day, according to Bloomberg data. In the overnight session, the exchange rate exhibited volatility with an upward bias.
Today, the peso managed to contain part of its losses against the dollar after evaluating a better-than-expected result for the Gross Domestic Product (GDP) in the third quarter of 2024. This positive economic indicator suggests a strengthening economy, which could influence investor confidence and currency stability.
Additionally, the biweekly inflation reading is being closely considered. Analysts at Monex financial group explained that the inflation data reinforces the narrative of a potential 25 basis point cut in the interest rate in December. Such a move by the central bank would aim to stimulate economic growth but could also impact the peso’s value against the dollar.
Market participants are keeping a keen eye on these developments. The interplay between GDP growth, inflation, and interest rates is crucial for forecasting the peso’s future trajectory. Investors and policymakers alike are weighing these factors to make informed decisions in the coming weeks.
Puerto Vallarta, Mexico - The Mexican peso opened at 20.44 pesos per US dollar in international markets, marking a depreciation of 0.17% or 3 cents compared to the previous day, according to Bloomberg data. In the overnight session, the exchange rate exhibited volatility with an upward bias.
