Wednesday, August 19, 2015

The Fed weakens the ‘superdólar’ – FORTUNE

MEXICO CITY (CNNExpansión) – Wednesday Interbank dollar appreciated against the Mexican peso, although the minutes of the US Federal Reserve (Fed) on the closure of the day caused a reversal in the greenback.

The dollar ended at 16.51 pesos to the sale, setting a new record high, and that means an increase of 0.66% compared to Tuesday’s close, according to the Bank of Mexico.

On the day the dollar reached 16.57 pesos per unit.

However, after the market close the dollar was a new escalation against the peso that caused the Bank of Mexico sold $ 33 million of the 200 million offered at auction with a minimum price, to a weighted exchange rate of 16.5961 pesos per dollar.

So far this year the dollar has appreciated 11.9% against the Mexican.

In windows of banks and currency exchange, the dollar also fell to 16.80 units for sale after the Fed minutes but hours later rose to the 16.90 units, according to figures from Banamex .

A purchase was trading at 16.30 pesos at 15:00 edge of Mexico City.

Members of the Federal Reserve considered that the conditions to raise interest rates are closer, but expressed concern about inflation and the weak state of the global economy.

“Some participants stressed that the economy has made significant progress in recent years and saw that economic conditions to start increasing interest rates already achieved or are achieved,” reads the minutes of the policy meeting the central bank held on 28 and 29 July.

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