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Optimism about the resumption of NAFTA renegotiations is one of the main reasons.
The exchange rate attempted to break the resistance price of 18.50 pesos per dollar, a level that has not been exceeded since March 23 of this year, although to do so there should be favorable news on the renegotiation of the North American Free Trade Agreement (NAFTA).
The exchange rate concluded transactions at 18.5420 pesos per dollar in interbank trades for sale, compared to the last transactions of the previous day (18.6455 pesos), represented an appreciation of 0.56%, or a gain of 10.35 cents.
At 19h in off-market trading, the exchange rate of 18.5240 pesos compared to the greenback, compared to the previous close of 18.5420 pesos, implied a slight appreciation of 0.10%.
Analysts pointed out that the recovery of the Mexican currency was partly explained by the rebound in the international oil price, where the US benchmark crude, West Texas Intermediate, gained 2.10% in May. $ 70.13 a barrel
Other also won
The peso did not escape The currencies of commodity-producing countries rallied, the Russian ruble having risen 0.47 %, the Swedish krona 0.41% and the New Zealand dollar rebounded 0.27%.
James Salazar, economic analyst at CIBanco, noted that there were other factors that helped strengthen the peso, mainly because of the optimism that exists about the resumption of NAFTA negotiations.
The specialist said that the exchange rate trend will be defined by news generated in relation to renegotiation. from NAFTA, therefore, if positive news is given, the exchange rate could break the support price of 18.50 pesos for a dollar.
For its part, the MetAnálisis Analysis of Change area predicted that the peso-dollar parity would maintain a high level of resistance at 18.50 pesos per greenback.
If defeated in the next few days, the next target price would be at a level of 18.40. pesos by green ticket, they pointed out.
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