The peso appreciates against the dollar at 19.90

During the session, the peso traded in a channel between 19.8153 and 20.1050 pesos, closing at a level of around 19.90 pesos, with an appreciation of 0.36 percent.

The appreciation of the peso was accompanied by a general weakening of the dollar against its main crosses, in the expectation that a Joe Biden administration with control in both houses of Congress could seek the approval of broader fiscal stimulus.

Today, elections were held for the last two seats in the Senate in the state of Georgia, where control of the upper house will be defined. The results are expected to be released tonight.

In the basket of 16 major dollar crosses, the only 3 currencies depreciated today were: the South African rand (-1.67%), the South Korean won (-0.52%) and the Brazilian real (-0.02%), while the peso ranked as the seventh most appreciated currency.

The peso

Another factor that could have contributed to the appreciation of the peso was an increase in oil prices, after Saudi Arabia promised to cut its oil production by an additional million barrels per day starting in February, with the intention of stabilizing the oil prices.

This led the WTI to hit a maximum of $ 50.16 per barrel, not seen since February 26, 2020, and to close with a price increase of 4.96 percent.

In the session, the euro touched a minimum of 1.2247 and a maximum of 1.2306 dollars per euro. Finally, the euro peso touched a minimum of 24.3127 and a maximum of 24.6599 pesos per euro.

At the close, the interbank quotes for sale were located at 19,9025 pesos per dollar, 1.3626 dollars per pound and 1.2293 dollars per euro.

Gabriela Siller; PhD

Director of Economic-Financial Analysis.

Banco BASE