He has his best performance in nearly 16 months

CITY OF MEXICO.- The Mexican currency reported a triumphant return to positive territory, supported by a favorable external environment and the prospect that the Bank of Mexico (Banxico) could raise its benchmark again.

El Banxico reported that the interbank dollar closed Thursday at 19,722 units, its lowest level since May 28.

By day, the peso advanced 45.25 cents, similar to 2.24 percent. This variation represented its best performance since that recorded on March 3, 2017.

In the banking window, the greenback is sold in 20 units, less than the 20.45 units announced Wednesday as closing by Citibanamex.

The exchange rate showed a maximum of 20,2074 units, while the minimum was reported in 19,6972 units, on the wholesale market.

At the session, the Mexican peso was the best-performing currency among those in emerging markets, according to Bloomberg.

The second and third place went to the Turkish lira and the Russian ruble with gains of 0.49 and 0.45%, respectively.

The participants in the foreign exchange market increased their positions in pesos, encouraged by the weakness of dollar on the international market and the recovery of oil prices, to which was added the possibility that the Bank Mexico could raise its benchmark rate again in the second half of this year.

The index that measures the behavior of the dollar against a basket of ten currencies loses 0.27%, due to weak numbers around the North American economy.

In the United States, it was announced that claims for unemployment insurance stood at 227,000 during the week ended June 23, above the expected 220,000, according to a survey by Bloomberg.

While the final figure of GDP, corresponding to the first quarter of 2018, showed a growth of 2%, lower than the 2.2 estimated on average by the market.

On another front, a better performance is observed on the oil market a situation that helps to support the Mexican currency.

The price of West Texas crude climbed 0.52% to 73.28 dollars a barrel, while the Brent rate gained 0.05 to 77.88 dollars.

According to the deputy governor of the Bank of Mexico, Javier Guzmán, the "Central Institute" must continue to adhere to a cautious approach to monetary policy and be prepared to respond to emerging circumstances, therefore, the possibility does not can be excluded from an additional adjustment to the benchmark rate, "he said at an event organized in London by the Santander Bank.

The exchange rate shows resistance at 20.50 pesos. While the nearest support is at 19.50 units, on the wholesale market.