The Mexican peso depreciated on Friday for the fourth straight day as investors still evaluated weak economic data this week, amid fears of coronavirus outbreaks in various parts of the world.
The local currency was trading at 22.1280 per dollar, with a loss of 0.56% compared to 22.0040 pesos of the Reuters reference price on Thursday, but in the month the accumulated gain was around 3.7%
“Business results, macroeconomic data and restrictions by COVID-19, which continues to add record contagions throughout the world, are the main elements that mark today’s session for the Mexican currency,” said Jorge Gordillo, director of analysis at CI Banco .
During the week, the data of the GDP in the United States, Mexico and the European Union were revealed, where the expectations of strong declines caused by the closures of the economies to stop the coronavirus outbreak were confirmed.
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