China hits the Mexican Peso

The Peso closed Monday’s session with a five-cent depreciation when trading at 20.32 per spot dollar and losing ground in line with most major crosses. In dollar windows the dollar was sold at 20.60 pesos, on average.

Specialists explained that the currency’s decline was due to a generalized strengthening of the US dollar, the return of risk aversion to global financial markets after recent economic indicators of China pointed to a slowdown, affecting in turn the prices of raw materials, so that the price of West Texas Intermediate (WTI) oil fell on Monday 3.1% and stood at 51 dollars a barrel due to investor doubts about the growth of demand, which erased Friday profits.

Exchange Rate – Peso per dollar

On the week is expected to see a decrease in liquidity in the exchange market, because on Wednesday, December 12 is celebrated the Day of Banking Employee, so that markets will remain closed and the exchange rate will move mainly in function of external factors.

Source: Dineroenimagen