The price of dollar in Mexico trades in the early hours of Wednesday to the downside, amid a global wave of risk aversion due to fears for the health of the chinese economy and also affected by the collapse and subsequent devaluation of the Argentine peso the day before.
The exchange rate is listed at 17,130 pesos per dollar, according to data from the Bloomberg agency.
After stating that the Mexican economy grew 3.6% in the first half of the year, the Bank of America Securities (BofA Securities) pointed out that the country is going through a good moment and that it improved its expectations towards the end of 2023 and 2024.
According to the financial institution, the behavior of the Economy of mexico was driven by the good results of USA throughout these six months, through trade between the two nations and remittances.
dollar globally
Most of Latin America’s currencies closed with losses on Tuesday, amid a global wave of risk aversion amid fears for the health of the chinese economy and also affected by the collapse and subsequent devaluation of the Argentine peso the day before.
A broad series of Chinese data showed on Tuesday that the economy slowed further last month, adding pressure on already faltering growth and prompting authorities to cut policy rates to prop up activity.
Less than an hour before the release of a series of data for July, the central bank of China unexpectedly cut key interest rates for the second time in three months, underscoring the rapid loss of the post-pandemic economic rebound that has rocked global financial markets.
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Source: Gestion
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