66 F
Thursday, January 20, 2022

Peso benefits by peaceful election, says banker

Latest headlines

New benches at ancient archaeological site anger Izamal residents

Modern slab benches detract from an ancient ruin at Izamal, neighbors say. Photo: Courtesy Modern-looking benches installed at...

Being a good neighbor to Yucatán’s roof cats and street dogs

Illustration: Juan Pablo Quintal García Cats replaced people as my friends soon after quarantine 2020 began. 

What my rescue dogs taught me

I thought I knew a lot about dogs until I took in two rescues. I was wrong....

Bus full of construction workers catches fire in Mérida’s north

A bus went up in flames just before 8 this morning in Mérida’s Francisco de Montejo neighborhood.
Yucatán Magazine
Sign up to get our top headlines delivered to your inbox twice a week.

Photo: iStock

A peaceful election has calmed fears among investors, says a Banco Base executive, who estimates that the exchange rate will continue to range between 19.70 and 20.30 pesos per U.S. dollar in the coming days.

A tranquil market followed Mexico’s presidential election, which was decisive enough to silence losing candidates who might have contested results, said Gabriela Siller, Banco Base’s director of economic and financial analysis.

“…the vote was free and fair, and (the winner’s) establishment rivals quickly and gracefully conceded defeat,” remarked the Washington Post in an editorial.

The exchange rate had remained relatively stable, at around 19.91 pesos per dollar. On election day, the peso fell to 19.76.

Andrés Manuel López Obrador garnered more than half of the vote on Sunday, and the second- and third-strongest candidates, José Antonio Meade and Ricardo Anaya, have conceded the race.

“Somehow they give the market peace of mind that there will be no confrontation between the different candidates. Probably the exchange rate is also declining because exit polls continue to show the trend of the polls before the election,” Siller added in statements after exit polls were released.

Banco Base estimated that the peso against the dollar can range between 19.70 and 20.30 pesos per dollar after the elections, depending on what López Obrador says in relation to Mexico’s public finances and its trading relationship with the United States.

He recalled that after the last three presidential elections, the exchange rate appreciated 2.82 percent. But the exchange rate now depends much more on external events, “and we know that Donald Trump will keep tweeting” protectionist rhetoric. Talk about a tariff on car imports is especially worrying, said Siller.

Source: Notimex

- Advertisement -

Subscribe Now!

More articles

600 acres expropriated in Quintana Roo for new Mayan Train route

Mexico has seized 198 lots of land in Quintana Roo along phase 5 of the Mayan Train's path.

Omicron strain now dominant in Yucatán

The Omicron variant of COVID-19 now appears to be the most common form of the virus in Yucatán.

Exploring Tazumal and Casa Blanca in Western El Salvador

Though part of the Mayan world, archaeological sites in El Salvador have largely remained unvisited by all but the most avid adventurers. But this tiny country boasts several interesting sites full of unique features and blends of cultural traditions. 

Mérida slated to build nearly 100 new highrise towers

Housing and business developments in Mérida have historically been fairly “close to the ground,” but that seems to be changing.

Yucatán’s COVID hospitalizations begin to creep up

Over 3,000 new coronavirus infections were reported this week in Yucatán. On Sunday alone, 652 new cases were detected, and that's likely...

‘Angels’ spreads its wings to the Yucatán Country Club gallery

The "Angels" exhibit has expanded into the exclusive Yucatán Country Club gallery, on view by appointment. Photo: Courtesy

Yucatán wakes up to a cold and windy ‘Mukul’

Mark Callum, a Mérida resident originally from England, helped this Chevy's owner move a huge branch behind the Paseo de Montejo...

Mérida Fest to go forward despite COVID-19 surge

The Ayuntamiento has confirmed that in-person events scheduled for Mérida Fest 2022 will continue as planned.

Building in Yucatán to get even more expensive in 2022

Over the past several years, construction costs in Yucatán have risen sharply and all signs point to even higher prices in 2022..

Yucatán’s top 8 street junk food favorites

Walking through virtually any city or town in Yucatán a wide range of food vendors can be seen peddling goodies out of push carts, mobile stands, food trucks, and just about every other configuration you can think of.