Mexican Beeso was estimated to be more than 21 per US dollar amidst the trade war between the US and China on Wednesday morning.
After losing the stadium on the last three trading days, Beso reached the Green Pack on Wednesday morning and reached 21.07, Yahoo! Finance.
New transfer rate on 21 pesos per dollar. pic.twitter.com/ei5ig8wxbv
Beso then strengthened to trade for $ 20.95 at Mexico at 10 am.
Compared to Mexico’s Bank of US dollar: MXN on Thursday 20.81 reached 21.07 to Peso by 1.2%. It was weakened by the US dollar land against a basket of major foreign currencies, Is measured by DXY Index.
Beso has reduced the value of 5% since US President Donald Trump was closed 19.94 last Thursday Announced new fees for importing from most countries around the worldBut not Mexico.
Last Wednesday, Trump announced an additional 34% fee for importing from China, and then raised the duty to 84% after responding to the importation of Beijing with a fee of 34%.
As of Wednesday, the minimum fee for Chinese goods entering the United States was 104%, as 10% of the duties were implemented in February and March. The Chinese government has announced that Trump’s 84% fee in importing from the US is now in effect.
The Financial Committee -based Finance Committee, Mexico, said on Wednesday that the trade war between the United States and China was weighed by Mexican Peso.
“In addition, local inflation advanced again in March, which shows the effect of the first fees on our country prices,” Monex said.
Mexico’s heading inflation rate was 3.80% in March, the National Statistical Company, InEGI, said in February, at 3.77%. In spite of progress, Mexico Bank is expected to reduce its major interest rate on May 15 after its next monetary policy meeting.
The central bank lasts reduced the cost of borrowing at the end of March, Its benchmark rate reduces 50 base points to 9%.
