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Mexico City.- The strong appreciation of Mexican Peso/US Dollar rate of exchange may be positive for domestic inflation, because companies that import raw materials pay less for supplies purchased abroad.
Mexican Peso has posted a 6.0% revaluation this year, the highest in Latin America, when compared to Brazil’s Real which posted 4.5% and Chilean Peso with barely 1.0%.
The recovery of the Mexican currency is mainly explained by the high flow of foreign investment into Mexico, arising from the attractive yield offered by the Mexican money market, in addition to investors’ confidence for lower risk in Mexico.
Taking all of the above into consideration, the Mexican peso my keep its trend up, mainly in May, when it may easily reach MXP$11.50 for US$1.00.