Peso gains ground against the dollar after Federal Reserve announcement
El Financiero | March 23, 2023 |

The peso managed to close at 18.56 pesos per dollar, after the Fed raised its interest rate by 25 basis points. This increase reflects an appreciation of 0.30 percent or 5.56 cents, compared to its last close, and reports its third consecutive day in the field of earnings.

The Federal Open Market Committee (FOMC) unanimously voted to bring the federal funds rate to a range of 4.75 to 5%, placing it at its highest level since September 2007.

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Throughout the day, the local currency reached a maximum level of 18.6619 and a minimum of 18.3801 units per dollar.

In the strength of the US currency, measured through the dollar index (dxy), a decline of 0.75 percent is observed and is located near 102.47 points.

Meanwhile, the Bloomberg dollar index (bbdxy) yields 0.55 percent and remains at 1,234.11 units.

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In the money market, the yield of the 10-year bond for the US market is 3.61 percent, in contrast, the yield of the 10-year Mbono in Mexico is located at a rate of 9.50 percent.

Among the currencies that gained ground this Wednesday is the Chilean peso with 1.58 percent, South African rand 1.39 percent, Hungarian forint 1.28 percent, Czech crown 1.23 percent, Romanian lei 1.01 percent, to name a few.

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