The peso ends with losses the first half of 2018

CITY OF MEXICO (Expansion) –

The peso rejects this Friday the first half of the year with losses … but the fall could be worse.

The first half of the year came to an end and with it a semester where the Mexican currency was at the mercy of such factors as: the decisions of the US Federal Reserve on the increase of money, the postponement of a new NAFTA, US trade tensions with China and the European Union, contagion of emerging currency losses such as the real and more recently the electoral process.

Meanwhile, oil prices rise, historic meetings like North Korean leader Kim Jong Un, with President Donald Trump, and the political turmoil in Italy, were targeted by participants of "It is important to note that although the peso depreciated mainly due to uncertainty about the future of NAFTA, exchange rate performance was in the same direction and more pronounced than that observed during the year. other presidential elections ". said Banco BASE's director of economic and financial analysis, Gabriela Siller, in a report.

At the end of this Friday, the wholesale dollar finished at 19.8730 pesos for sale, which meant a loss of 0.77 percent for the peso compared to the previous session, said data from the Bank of China. Mexico (Banxico).

However, in the weekly cumulative gain of 0.67% peso, and spun two weeks with advances.

On the 26 weeks of the first semester, the peso lost 14 and increased by 12.

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worst session for the currency up here this year was recorded in June, but in the monthly cumulative had a slight advance of 0.26%, which interrupted two months of falls.

In the biannual balance sheet, the peso is left out, since in three months it fell and in three it won:

January, March and June closed in positive territory, and February, April and May in negative . The latter recorded the largest monthly decline so far this year: 6.24%.

But in the second quarter, the peso fell by 8.58%, against a lead of 6.90% on the first.

"The depreciation of the peso during the quarter was due to an increase in speculative bets against the national currency of 83.5% according to the statistics of the Chicago Futures Market," says Siller.

In previous presidential elections (2000, 2006 and 2012), the peso lost 4.96% on average during the second quarter

In one year, the peso is down 1.09%.

The exchange rate from Sunday evening will depend on the election results, confirming that the success of the leftist candidate could lead to an exchange rate between 19.70 and 20.30 pesos for one dollar, "said Mr. Siller.

In the wickets of the banks, the greenback closed at 19.95 pesos, or five cents under the last price on Thursday, and the purchase at 19.15 pesos, according to Citibanamex's quote

In BBVA Bancomer, the dollar ended at 20.22 pesos, nine cents more than the last price on Thursday, and the purchase at 19.14 pesos.

In June , the greenback in banks rose to 21.05 pesos, and was eventually cured.