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The peso adds its fifth consecutive rise against the dollar


The peso registers a recovery against the dollar amid the health emergency caused by Covid-19. File photo: Cuartoscuro

MEXICO CITY

The Mexican peso appreciated for the fourth session on Monday due to a weakness in the dollar, while the market closely follows the health of US President Donald Trump, who is hospitalized after reporting that he had Covid-19.

The local currency was trading at 21.4431 per dollar, with a gain of 0.71 percent, compared to 21.6103 for the reference price of Reuters Friday.

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Trump could be discharged this Monday, according to his doctors, although his condition remains unclear and some outside experts warn that the Republican’s health may be more serious than is believed.

Investors are also awaiting news of talks in Washington about an aid package in the United States being discussed in Congress to deal with the coronavirus crisis.

“Equity markets and government bond yields on the rise, with the dollar losing on optimism about possible fiscal stimulus in the United States and improvement in the health of President Trump,” Banorte said in a report.

You can also read:

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GDP falls 18.7% in the second quarter of 2020

Pandemic costs 60 mmdp to Mexico; purchase of supplies and contracts

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