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The peso continues its gains against the dollar before the Fed’s announcement

September 22, 2021 | 12:20 pm

The Weight It rose against the dollar this Wednesday, extending its gains on Tuesday, after investors waited for the monetary policy announcement for Federal Reserve from the United States (feed it).

At 11:20 a.m. (Mexico City time), the Mexican currency was up 0.39% against the dollar, with the exchange rate quoted at 20,554 units per US currency, according to data from Bloomberg.

during operations Overnight, the peso touched a minimum of 20.0448 and a maximum of 20.1461 pesos per dollar.

In retail, a green ticket sells for 20.53 pesos at Citibanamex windows, 12 cents cheaper than yesterday.

The dollar index, which measures the currency’s performance against a basket of the six most-traded currencies, declined 0.09% to settle at 93.12 units.

The peso rose in value on Wednesday after investors were warned about the monetary policy announcement by feed it to be released later.

In addition to the currencies considered risky, it is recovering from previous losses after the Chinese real estate company Evergrande announced on Wednesday a Agreeing with a local creditor to avoid defaulting on interest on a principal bond.

The debts of the Evergrande accumulate more than 300 thousand million dollars, in addition to its problems, it is a test of great importance to determine whether the Chinese government will intervene to avoid domino effects that could affect the country’s growth and affect the global economic recovery.

Although the announcement provided a brief respite, Banco Base notes that this does not mean that the potential for new bouts of risk aversion associated with Evergrande in the capital markets has disappeared, as the company has $167 million in commitments to pay interest. Bonds in October, 83 million in November and 255 million in December.

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Wall Street indices rise as stocks rise amid housing concerns Evergrande Group fell.

In the raw material market, Oil prices are on the rise, after data from the US industry showed a higher-than-expected drop in inventories after Hurricanes Ida and Nicholas passed.