The price of dollar in Mexico trades in the early hours of Monday on the rise, amid a weakening of the main stock indices of Wall Street and Europewhich pushed the price of gold to its highest level since April, on track for its biggest weekly rise in four months.
The exchange rate is listed at 18.8427 pesos per dollar, according to data from the Bloomberg agency.
President Andrés Manuel López Obrador assured that the Mexican economy is fine and that it has not been affected by the bankruptcy of banks in USA.
“We are doing well in the economy, and the peso is holding up because there were bankruptcies of two banks in the United States, and it did have an effect on the entire world market, but the peso is, I would say, stable, we continue without devaluation of the peso, this is not it happened like in 50 years”he asserted during a press conference.
In addition, he added that “it is no longer like in the days of neoliberalism, when we got the flu in the United States, here we got pneumonia, now it is the other way around, banks can fail there, as is happening, and nothing happens here, or new things happen.
dollar globally
Investor confidence remained fragile last Friday, weakening the main stock indices on Wall Street and Europe and boosting the price of gold to its highest level since April, on track for its biggest weekly rise in four months.
According to the Reuters Agency, the yield of the bonds of the us treasury It was still falling after US consumer confidence fell in March for the first time in four months.
In a crisis that began last Friday with the collapse of US-based Silicon Valley Bank, investors lost confidence in the country’s regional banks and in Credit Suisse in Europe.
Risk appetite eased on Friday, after showing signs of recovery on Thursday. Credit Suisse’s chief executive said on Friday that the bank is working hard to curb customer departures, although this could take time. Shares of the Swiss lender resumed their decline.
Source: Gestion
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
