A bad day for the peso: It depreciates over 1%, passing 17.5 to the dollar

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The Mexican peso depreciated over 1% against the US dollar, passing the 17.5 mark. This decline is influenced by the strengthening dollar, interest rate hikes by the US Federal Reserve, and Mexico's central bank's decision to maintain high rates.

A multiplicity of factors is stifling the Mexican peso, starting with a strengthening of the dollar after an extended period of weakening, and also including the U.S. Fed's recent (and expected future) interest rate hike, as well as Banxico's detrmination not to lower interest rates any time soon. The post A bad day for the peso: It depreciates over 1%, passing 17.5 to the dollar appeared first on Mexico News Daily