utilitus Posted August 28, 2019 Report Share Posted August 28, 2019 1 United States Dollar equals 20.11 Mexican Peso Aug 28, 9:00 PM UTC Aug 28 (Reuters) - Latin American currencies weakened against a firm dollar on Wednesday as investors shied away from riskier bets amid global growth worries, while strong demand for oil helped equities in the region rise. Adding to a bout of data signaling global slowdown, Mexico's central bank, Banxico, reduced its projected growth for Latin America's second-largest economy for the fifth time in a row for 2019 and expects a smaller expansion in 2020. Banxico also cut its inflation forecast for the end of 2019 to 3.2% from 3.7% on the back of growth risks arising from global trade disputes and struggling state oil firm Pemex, whose ratings downgrade poses a big threat to the sovereign debt. The Mexican peso MXN= shed 0.4%. Quote Link to comment Share on other sites More sharing options...
pappysmarket Posted August 28, 2019 Report Share Posted August 28, 2019 Thanks for the Alert... Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted August 28, 2019 Report Share Posted August 28, 2019 Also didn't Mexico recently cut the Cete rate a quarter percent? Quote Link to comment Share on other sites More sharing options...
traderspoc Posted August 29, 2019 Report Share Posted August 29, 2019 mexico is coupled to US rates, mexico raised peso interest rate when US went up. so expect Mexico rates to go down, if USA goes down mexico will follow, maybe not the same month, but they will follow. Amlo said he wants the rate down i am a buyer of pesos when it gets to 21, so you can buy pesos over 20 1/2 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.