Mexican peso weakens to 17.98 per dollar on Middle East tension
Brent crude traded near $100 per barrel following attacks in the Strait of Hormuz.
The Mexican peso ended at 17.98 units per dollar on Wednesday, 7 October, according to data from Banco de México. The currency lost 1 cent compared to its close on Tuesday, 6 October, as risk aversion increased due to geopolitical tensions in the Middle East.
In the commodities market, Brent crude traded near $100 per barrel during an uneven session. West Texas Intermediate hovered around $89 per barrel. The organisation UK Maritime Trade Operations reported at least nine attacks on vessels in the Strait of Hormuz so far this month.
The escalation of attacks occurs just when oil flows through the Strait of Hormuz were approaching pre-war levels, raising once again the risk of disruptions in the energy supply.
Commercial bank Banamex quoted the dollar at 18.43 pesos for sale and 17.41 pesos for purchase on 7 October. In the debt markets, the yield on the US 10-year Treasury bond stood at 5.31 percent, while the yield on the Mexican 10-year bond remained at 9.41 percent.
Other currencies also retreated against the dollar on Wednesday. The Hungarian forint declined 0.77 percent, the Polish zloty fell 0.73 percent, the Romanian leu lost 0.69 percent, the Czech koruna slipped 0.64 percent, and the Brazilian real dropped 0.63 percent.
Share prices can rise and fall. Past performance does not guarantee future results. This article is news, not investment advice.
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