The peso closed the session with a minimum appreciation of 0.06% or 1.3 cents, trading around 20.10 pesos per dollar, with the exchange rate touching a minimum of 20.0135 and a maximum of 20.1481 pesos per dollar.

The session was quiet with few variations due to the scarcity of information and relevant economic news, so that after 8:00 hours the exchange rate oscillated around the level of 20.10 pesos per dollar.

Most of the currencies closed with an appreciation, with the peso ranking 22nd among the most appreciated.

Only four currencies closed with a depreciation, the Colombian peso with 0.59%, the Brazilian real with 0.42%, the Argentine peso with 0.11% and the Chilean peso with 0.09 percent.

The dollar weighted index closed 0.45% down and accumulated a 1.14% drop in the last three sessions.

Among the most appreciated currencies are the euro, which rose 0.56% to $ 1.21 per euro and the British pound, which appreciated 0.53% to $ 1.38 per pound.

This is partly due to evidence of a slowdown in the rate of new infections in Europe and the UK.

Only in the United Kingdom, in the last two days the rate of new infections has been 50% lower than that observed in the last week of January, while in the rest of Europe daily infections have been reduced 32% compared to the last January week.

The peso

Along with the weakness of the dollar, raw materials closed higher, with WTI oil gaining 0.74% and trading at 58.40 dollars per barrel, hitting a maximum of 58.62 dollars per barrel, a level not seen since January 21, 2020 .

For their part, among industrial metals, the price of aluminum rose 1.28%, copper 1.37% and steel 0.50 percent.

Among agricultural commodities, corn peaked at $ 5.74 per bushel, a level not seen since May 21, 2013.

In addition to the weakness of the dollar, the expectation of a recovery in demand for raw materials contributed to the increases in their prices.

In the session, the euro touched a low of 1.2047 and a high of 1.2121 dollars per euro.

Finally, the euro peso touched a minimum of 24.2059 and a maximum of 24.3901 pesos per euro.

At the close, interbank quotes for sale were 20.0970 pesos per dollar, 1.3814 dollars per pound and 1.2118 dollars per euro.

Gabriela Siller; PhD

Director of Economic-Financial Analysis.

Banco BASE