The dollar enjoyed a jump in value on Wednesday, gaining 33 centavos to close at a selling price of 19.57 pesos at Mexico City currency exchanges. Banks purchased the dollar for 18.10 pesos.
Mexico’s Central Bank (Banxico) set the exchange rate at 19.111 pesos per dollar.
According to analysts at CIBanco, the peso registered a drop due to the reports that Donald Trump, United States president, could issue an order to leave the North American Free Trade Agreement (NAFTA) in order to “improve their negotiating position.”
