The weight mexican and the bag interrupted on Friday one three session streak with Profits after S&P downgraded Mexico’s credit rating and that of the state oil company Pemex, while fears were reactivated about the economic damage caused by the pandemic of coronavirus.
The local currency was quoted in 23.4690 per dollar at 14.20 time local (20.20 GMT), with a loss of 2.35%, compared to 22.9300 of the . reference price on Thursday.
Exchange rate for sale in the interbank market (spot) today Friday March 27:
09.00 hrs .: 23.4200 p / d
13.30 hrs .: 23.3250 p / d
http: // https: //t.co/LaOklzuAeE
– Banco de México (@Banxico)
March 27, 2020
However, the peso registered a weekly advance of 3.8%, the highest since July 2018 due to a streak of strong increases this week in the face of an observed drop in the dollar. S&P downgraded Mexico’s long-term foreign currency credit rating to “BBB” from “BBB +” on Thursday, and maintained its negative outlook, reflecting the possibility of further downgrades to the sovereign note for the next 12-24 months, in the middle of the coronavirus crisis.
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The agency also downgraded Pemex’s credit rating to “BBB” with a negative outlook. Meanwhile, The United States beat China in the number of cases of the virus and experts hope it will become the epicenter of the outbreak. Globally, cases total more than 550,000 and nearly 25,000 people have died, according to a . count.
The benchmark S & P / BMV IPC stock index fell 5.34% to 33,799.49 points, with a volume of 270.7 million traded securities. The square scored a low week of 1.37% and in the year it added a decrease of 22.3%.
In the debt market, the yield on the 10-year bond fell 20 basis points to 7.18%, while the 20-year rate fell 21, to 7.75%.
Exchange rate in Mexico
According to the Investing.com platform, the dollar is trading at $ 23.34 pesos. In Banxico, at closing time the dollar was at $ 23.32.
Dollar price in different institutions. Source: dollar.info
Regarding the exchange rate in the different banks of mexico, as published in dollar.info on various financial institutions, the price of the dollar reaches its highest level for sale at $ 25.00 in Scotiabank, While the lowest to purchase is at $ 19.00 also in Scotiabank.
Regarding euro, it is quoted at $ 26.00 pesos, for $ 29.14 pesos from the pound sterling, in general average.