119 Global News Post 2

Mexico News Daily. (2023). The Mexican peso appreciated 5.87% since the beginning of 2023 according to El Universal newspaper. [Photograph]. https://www.nationalgeographic.com/magazine/national-geographic-magazine-50-years-of-covers/#/ngm-1985-jun-714.jpg

The article titled “Peso at strongest level against the dollar since 2018” by Mexico News Daily reports that the Mexican peso has reached its strongest level against the US dollar since 2018. As of the time of writing, the peso was trading at 19.89 to the dollar, which represents a 0.5% increase in value compared to the previous day. It also notes that the peso has been steadily strengthening against the dollar in recent months, due in part to the country’s solid economic fundamentals and the success of the COVID-19 vaccination campaign. Additionally, the US Federal Reserve’s decision to maintain low-interest rates has also contributed to the peso’s appreciation. Finally, it also points out that the peso’s strength could have both positive and negative impacts on the Mexican economy. On the one hand, a strong peso could help to reduce inflation by making imported goods cheaper. On the other hand, it could also hurt the country’s export sector by making Mexican goods more expensive for foreign buyers.

As far as evidence goes; first, the article cites data from the Bank of Mexico, which shows that the peso closed at 19.7625 to the dollar on Thursday, February 17, 2023. This represents an increase in the value of the peso, as it is the strongest level against the dollar since August 2018. This data provides a clear numerical measure of the peso’s strength against the dollar, and is a reliable source of evidence for the article’s claim. The article also cites analysis from Bloomberg, which attributes the peso’s recent strength to a number of factors. These factors include rising interest rates in Mexico, which have made Mexican assets more attractive to foreign investors, as well as a recent increase in oil prices, which has helped support the Mexican economy.

The perspective shared in the article allow the readers to take advantage of this monetary opportunity if they wanted. People looking to travel from Mexico to the US  soon can take advantage of this while people looking to travel from the US to. Mexico should wait a bit to convert their money.

Staff, M. N. D. (2023, February 18). Peso at strongest level against the dollar since 2018. Mexico News Daily. Retrieved February 19, 2023, from https://mexiconewsdaily.com/news/peso-at-strongest-level-against-the-dollar-since-2018/