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Mexico City (apro) – Financial markets in Mexico are becoming unstable after the Morenoist legislator Ignacio Mier reported reforms to the judiciary next September. The peso fell to its lowest level at noon today, reaching 18.35 units per dollar.
Although the coordinator of the Morenoist seats in the House of Representatives tried to make concessions and affirmed that they would proceed with caution – a position shared by Claudia Sheinbaum – his comments did not calm the anxiety of financial markets, especially after the election of the president. Andres Manuel Lopez Obrador He defended the reforms at the conference.
The Mexican currency yesterday reached its worst level since October 2023, depreciating by 2.71%. According to the Bank of Mexico (Banxico), at the official close of the day, the peso remained at 17.88 units.
The exchange rate opened at 17.96 on Friday and reached 18.35 pesos at noon today, so the downward trend of the Mexican currency continues. The daily fluctuation range is between 17.80 and 19.39.
In addition, the US non-farm payrolls report was released this morning, showing job growth in the country. The report said that the US economy grew faster than expected in May, which runs counter to the necessary conditions for a near-term interest rate cut.
Mexico’s inflation rate in May was 4.69% annualized, rising for three consecutive months, according to the National Institute of Statistics and Geography (Inegi). May was the 16th consecutive month that the underlying index fell to 4.21%.
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