Mexico City.- The Mexican peso depreciated more strongly on Tuesday than other global currencies amid a general strengthening of the dollar and renewed concerns about Donald Trump's victory in the US elections in November, Reuters reported.
On the Forex market, the exchange rate was recorded at 19.8892 pesos per dollar, with the Mexican currency losing 1.04 percent compared to Tuesday's reference price, although it previously weakened to 19.9410 units, a level not seen since mid-September.
The Republican presidential candidate said that if he wins the election, he could impose tariffs of more than 200 percent on vehicles imported from Mexico, one of the engines of the local economy. “Market participants anticipate volatility and upward pressure on the exchange rate after the elections in the United States, which are scheduled for November 5,” said the company Banco Base, in an analysis note.
The peso suffered losses for three consecutive days, with a cumulative decline of 3.3 percent and, according to analysts at Grupo Financiero Banorte, the rest of the session is expected to oscillate in a range of 19.73 and 19.95 per dollar.