Exchange rate today
The exchange rate was trading at 17.41 pesos per dollar this morning, an appreciation of 1.03% compared to Monday’s closing price recorded by the Bank of Mexico.
In the United States, inflation stood at an annual rate of 3.2% in October, below the market expectation of 3.3%. With these results, the chances of an increase in interest rates by the Federal Reserve in December decrease.
Recently, Goldman Sachs economists pointed out that “the hardest part of the fight against inflation seems to be over” and that the first drop in interest rates is expected to occur in the first quarter of 2024. Although they considered that High interest rates will remain for several more months. The Federal Reserve’s inflation target is 2%.
With the October data, 3 consecutive months of acceleration in inflation at an annual rate are ended, Banco Base indicated in an analysis where it is expected that, during the session, the exchange rate is between 17.28 and 17.51 pesos per dollar.