Mexican peso remains stable

The Mexican peso appreciated by 0.22% against the US dollar, closing at 17.2619 pesos per dollar—its strongest level since February.

The Mexican currency posted its 10th consecutive gain against the dollar amid tensions between the United States and Iran, where it appreciated by 4.78%.

The dollar extended its decline following the release of U.S. producer price inflation data. Meanwhile, the Price and Quotation Index (IPC) fell 0.94% to 68,941 points—a far cry from Wall Street’s festive performance.

While the International Energy Agency fears that high prices could crush oil demand if the war continues and the possibility of a peace agreement between the United States and Iran remains uncertain, energy prices fell.

Brent crude futures closed down 4.6% at US$94.79 per barrel, while WTI futures fell 7.87% to US$91.28.
The International Monetary Fund (IMF) warned of the threat of a global recession if the war drags on and oil prices rise further.