The price of dollar in Mexico operates in the early hours of Tuesday to the rise, after a festive day in USA yesterday, which slowed down operations before the minutes of the last meeting of the Federal Reserve and a reading on core inflation that could increase the risk of interest rates rising for longer.
The exchange rate is listed at 18,395 pesos per dollar, according to data from the Bloomberg agency.
The Center for Economic Studies of the Private Sector (CEESP) warned that the appreciation of the peso against the dollar harms the competitiveness of Mexico, which is also pressured by higher labor costs due to the pronounced increases in minimum wages and the law to increase the number of vacation days.
“Without a concomitant increase in productivity, the appreciation (of the peso) harms the competitiveness of the economy by generating an appreciation of the real exchange rate or, as it is more widely known, a tendency towards exchange rate overvaluation”affirmed the organization directed by Carlos Hurtado López.
According to Forbes, imports from abroad are cheaper and the country’s exports are more expensive, according to the economic advisory body of the Business Coordinating Council (CCE) and top-level companies in Mexico.
dollar globally
Global stocks rose yesterday as a holiday in the United States slowed trading ahead of minutes from the latest Federal Reserve meeting and a reading on core inflation that could raise the risk that interest rates interest to rise for a longer time.
According to Reuters Agency, the dollar, which in February registered its biggest monthly advance since September, was operating practically flat in the session, favoring currencies linked to raw materials, thanks to the rise in prices of raw materials such as crude oil and copper.
US markets will be closed for the Presidents Day holiday, giving non-US assets some respite after last week’s relentless pressure.
Source: Gestion
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