He euro was negotiated at closing Average 21.13 Mexican pesoswhich represented a change of 0.09% compared to the previous session’s 21.15 pesos, it said Dow Jones.
Regarding last week, the euro cumulative increase of 0.09%; although there has still been a decline for a year 0.65%.
Regarding the fluctuations of this day compared to previous days, the direction of the previous result changed, resulting in an increase of 0.03% and proving unable to consolidate a defined trend. The volatility of these seven days was significantly lower than the volatility reflected in last year’s numbers, so we can say that it has been in a period of greater stability recently.
He Mexican peso Not only has it performed well against the US dollar, but it has also shown strength against the euro over the last year.
The Mexican currency, one of the few that has not lost value against the dollar despite global problems such as inflation, posted its best numbers since its best rise in 2016.
Colloquially referred to as “superweight”The strength of the Mexican currency is largely due to the Bank of Mexico’s (Banxico) decisions regarding reference interest rates, while increasing its attractiveness for investors.
Given the stability of public finances and remittances achieved in 2023, the Mexican government expects that the remittance record for 2022 ($58,487 million) could be broken.
In contrast, the euro has approached parity with the dollar and is even worth less than a dollar, a situation not seen in 20 years, due in part not only to global inflation, but also to the Russian invasion of Ukraine which brought with it the decline in raw materials.
The peso-dollar ratio in 2024 was characterized by contrasts. The year began with an appreciation of the Mexican currency against the US currency. The greenback was selling for 16 pesos per unit, something that had not happened in almost a decade. The nickname “superweight” stuck more than ever.
However, the peso lost value as its value increased, mainly due to political decisions such as the controversial reform of the judiciary and the abolition of autonomous bodies.
The Aztec currency’s decline has been exacerbated by Donald Trump’s election campaign, his victory as president of the United States and his threats to impose tariffs on all Mexican – and Canadian – products if Mexico does not improve security at the border.
The dollar thus returned to 20 pesos, well above the forecasts of the Bank of Mexico (Banxico).
Banxico expects the dollar to trade at average levels through 2025 from 20.24 pesos to 20.69 pesosa conservative forecast given the impact that Trump’s statements and policies in the White House would have on the nature of the changes.
According to the National Institute of Statistics and Geography (Inegi), inflation was relatively stable in 2024, at around 4%, with the exception of June when it reached almost 6%.
This year Banxico predicts that the Inflation will be below four points up to 3.8%.
Regarding gross domestic product (GDP) growth, the low forecasts remain. The central bank expects GDP growth of just 1.2%.
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