AMLO celebrates the “strength” of the Mexican peso against the US dollar

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Andrés Manuel López Obrador, president of Mexico, bragged about the “strength” of the Mexican peso against the US dollar, which on this day closed at 19.36 pesos per USD, something that, AMLO said, “had not been seen in half a century.”

“The dollar closed today at 19.36 (peso per dollar). In half a century it had not been seen that the peso, instead of devaluing, appreciated to the point of being the most strengthened currency in relation to the dollar, ”wrote the president on his official Twitter account.

The Mexican peso surprised this year by becoming the third most appreciated currency against the dollar this year, ahead of the euro and the pound sterling, while other Latin American currencies hit record lows.

The most recent historical drop had been registered in November 2022, when the Mexican currency reached a positive variation of 3.82 percent, only behind the Russian ruble and the Brazilian real, thanks to the weakness of the dollar and external factors such as remittances and record exports.

Source: El Financiero

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