Peso beats the dollar after bad days at the weekly close

Good news for the Mexican peso against the US dollar . After a losing streak, the national currency finally closed the week with positive results.

After two weeks of losses, the Mexican currency closed Friday at 18.55 per dollar on international markets, up 1% or 19 cents compared to the previous Friday.

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With this result, the peso achieved its largest weekly gain since the period from June 27 to July 4 , when it reported a 1% appreciation, according to Bloomberg.

During the week, the exchange rate hit a high of 18.75 and a low of 18.52, its lowest intraday price since August 1 of last year .

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At retail, the dollar closed yesterday at 19.01 pesos at Banamex branch windows , 20 cents below last week's close.

The weekly appreciation was due to the weakening of the dollar due to the possibility that the United States will announce new trade agreements before August 1 , said Gabriela Siller, director of economic and financial analysis at Banco Base.

He highlighted that U.S. Secretary of Commerce Howard Lutnick mentioned last week that Trump will not renegotiate the USMCA until next year, rather than in the second half of 2025 as previously speculated.

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OA