Come dollar at 22 pesos by year-end; NY closed today at 19.62 wholesale
New York, United States, September 16.- The Mexican peso again suffered another jolt on international markets and on Friday raised its rate against the dollar to 19.62 pesos on the wholesale market with what is definitely en route to 20 pesos.
Inflation figures to rise in the United States to strengthen the Federal Reserve to raise its interest rates next week, catapulted over the Mexican currency recorded levels not seen since last June while in intraday reached 19.77 pesos.
Also, concerns about a possible victory of Donald Trump in the race for the US presidency and put a new roof on the currency up to 22 pesos per dollar, no matter what measures you can take the Mexican government that with this level of depreciation will be disrupted their finances via inflation and weak growth dad could bring its economy into recession by early 2017.
The US Commerce Department announced that in August the consumer price index increased 0.2 percent, double what analysts expected and inflation remained at 1.1 percent.
Meanwhile the Dow Jones index closed today with a loss of 88.68 points (0.49 percent) to stand at 18 000 123.80 units.
Major stock indicators finished the New York Plaza in negative territory, affected by declines in the shares of the energy, financial and industrial sectors.
The Nasdaq composite index fell 5.12 points (0.10 percent) to close at five thousand 244.57 units and the Standard & Poor’s 500 declined 8.10 points selected shares (0.38 percent) to two thousand 139.16 units.
Friday did not open Mexican markets, so there could be a rebound in the retail market for Monday, knocking on the door of 20 pesos.