The peso closed the session with a depreciation of 0.33% or 6.7 cents, trading around 20.23 pesos per dollar, with the exchange rate trading between a minimum of 20.1459 and a maximum of 20.2550 pesos.

The depreciation of the peso was the result of a general strengthening of the US dollar after the publication of the monetary policy minutes of the Federal Reserve, at 1:00 p.m.

Likewise, the minutes showed that full employment and inflation conditions are not yet met to begin reducing the $ 120 billion monthly asset purchase program, reiterating a broadly accommodative stance.

The dollar weighted index closed with an advance of 0.28%, the first since March 30.

In the bond market, the yield rate on the 10-year Treasury bonds registered a moderate increase of 1.3 basis points, standing at 1.67 percent.

Although the increase was not significant, it is the first of the week and it was in response to the publication of the Fed’s minutes that showed an accommodative stance, which generates speculation about the risk of inflationary pressures in the long term. The yield rate on the 30-year Treasury bonds showed an increase of 2.9 basis points to 2.35%.

The peso

In the foreign exchange market, the most depreciated currencies were the Indian rupee with 1.54%, the Brazilian real with 0.92% and the New Zealand dollar with 0.75%, with the Mexican peso ranking as the seventh most depreciated currency.

There was no clear pattern between currencies that lost ground, as currencies from emerging and advanced economies depreciate.

As for relevant news, the president of the United States, Joe Biden, announced that the Senate is preparing a law to address the global shortage of semiconductors, which has affected the computer equipment and automotive industries.

Although no details were provided, legislation that makes semiconductors available in the United States could directly benefit Mexico’s auto industry, which is integrated into the US production chain.

In the session, the euro touched a low of 1.1861 and a high of 1.1915 dollars per euro. Finally, the euro peso touched a minimum of 23.9277 and a maximum of 24.0329 pesos per euro.

At the close, the interbank quotes for sale stood at 20.2280 pesos per dollar, 1.3735 dollars per pound and 1.1874 dollars per euro.

Gabriela Siller; PhD

Director of Economic-Financial Analysis.

Banco BASE