Now it’s not Argentina anymore Mexican peso It has ranked first in this year’s 2024 Top Losing Coins list. This, after the approval of judicial reforms in the Chamber of Deputies.
The superweight has lost ground against the dollar for two straight days and opened operations at 20.15 units this Thursday dollarWhich translates to, according to the financial environment Bloombergin This is the worst level in two years.
After taking the silver medal as the most winning currency in 2022 and 2023, the Mexican peso It has suffered a devaluation of 18.9% or 3.20 units since the beginning of the year and is at the bottom of the list of 32 major world currencies. It is followed by the Argentine peso, the Brazilian real and the Turkish lira.
At the other end of the ranking, the Malaysian ringgit, the South African rand, the pound sterling and the Polish zł appear as the most appreciated currencies of the year.
The Mexican peso was under pressure at 20.15 units due to a weak employment report from the ADP firm in the US, strong gains in the Japanese yen and currency advances. Judicial reform In the Senate of Mexico, according to a report that CIBanco released this Thursday morning.
For Janet Queiroz, Director of Economic, Exchange and Stock Market Analysis at Monex, the exchange rate Shows great volatility Because the market consolidates the recent approval of the reform of the judiciary in the Chamber of Deputies.
Banorte analysts see it likely that the wholesale parity will reach a maximum of 20.50 units during the week and highlighted that the Mexican peso has depreciated this morning, while most currencies have strengthened against the dollar. In retail, the dollar opened for sale at 20.50 pesos over the CitiBanamex counter.
US payroll processor ADP released its employment report this Thursday, with results that disappointed by showing just 99,000 job creation in August and a downward revision to the previous month, fueling expectations of a cut in key interest rates. Federal Reserve September 18.
The world’s most influential central bank has frozen rates at 5.25% to 5.50% since July last year, the highest since 2001.
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Read more: Superweights hang on to judicial reform, falling to lowest level since October
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