The national currency was seen in front of the US dollar so far this year, being the most valued currency among Latin American countries, according to the Sixth Government Report of Andres Manuel Lopez Obrador (AMLO).
As of June 28 of this year, the exchange rate was 18.28 units, while in November 2018 it closed at 21.46, according to data from the Bank of Mexico.
In the document, the AMLO government mentioned that the Mexican peso stood out among economies in the region such as Brazil, Chile, Colombia and Peruwhich experienced depreciations of their currencies against the dollar of 30.9, 28.5, 22.1 and 12 percent, respectively.
“This behavior was explained by the wide differential in reference rates between Mexico and the USAas well as the solid economic fundamentals that facilitated the entry of foreign currency,” stated AMLO’s latest report.
During the last year of government, the Mexican peso experienced episodes of volatility, especially highlighting the period after the presidential elections, in which the Mexican government won. President-elect Claudia Sheinbaum.
Since then, the national currency has registered a fall against the dollar, influenced by the electoral result and the economic uncertainty generated by the reform of the Judiciary.
On May 31, the Friday before the election, the exchange rate closed at 16.96 pesos per dollar. After the triumph of the former head of government, on Monday, June 3, the national currency fell 4.39 percent and began to lose ground against the greenback, according to data from Banxico.