At trading midday, the U.S. dollar gained one centavo from its opening price of Tuesday’s session, offered in Mexico City banks at up to 18.76 pesos, and is being bought at a minimum of 17.98 pesos.
The euro reached a sale price of 20.88 pesos, an increase of four centavos since opening, and the yen is being traded at up to 0.183 pesos.
According to Grupo Fincanciero Ve por Mas (BX +), or the Go for More Financial Group, the impact of the depreciation of the Mexican currency will be of an orderly and gradual manner, therefore Mexico’s Central Bank (Banxico) will not increase the benchmark rate.
“The Central Bank will focus on keeping its monetary position in respect to the Federal Reserve (Fed),” it said.