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Mexican Peso Gains as Argentina’s Dollar Rates Cluster Near ARS 1,330–1,345

Analysts attribute the peso’s gain to expectations of a U.S. rate cut.

La compra esta en 18.00 pesos, mientras que la venta está en 18.50 pesos en casas de cambio locales l Foto: Javier Gallegos
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Overview

  • Banxico reported a Friday close of 18.5935 pesos per dollar, a 0.92% daily advance and the best session since May 13, with a 0.79% weekly gain.
  • Official and market snapshots diverged slightly, with the DOF at 18.773 and ElDolar.info’s averages near 18.58 (buy 18.24, sell 18.92).
  • Banorte noted that Jerome Powell’s latest remarks point to a possible September rate cut in the U.S., a factor seen supporting the peso.
  • Banxico data show remittance inflows down 14.5% year over year through June, with the 12‑month total at $64.00 billion versus $64.26 billion previously.
  • In Argentina, Banco Nación set a retail sale reference at ARS 1,335 while blue traded near ARS 1,345 and financial dollars hovered around ARS 1,328–1,333, leaving narrow spreads early Monday.