Mexican currency gains 1.02%, it is quoted at $ 23.74 pesos per dollar

mexican-currency-gains-102%,-it-is-quoted-at-$-23.74-pesos-per-dollar

The Mexican peso begins the session on Thursday with a profit of 1. 02 percent, when trading at 23. 7418 per wholesale dollar

Televisa News SOURCE: notimex FROM: CDMX

Peso appreciates, as the dollar weakens due to unemployment figures in the US. (Darkroom)

The Mexican peso begins the session on Thursday with a profit of 1. 02 percent, when negotiating at 8: 00 in the morning, in 23. 7418 for dollar wholesale, as the US currency weakened after the publication of the indicators of initial applications for unemployment support, which registered their highest level in history.

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The US Department of Labor reported that during the week ended 21 March received 3 million 283 one thousand initial applications for unemployment aid, about 5 times above the previous maximum of 1982 and 2009, which were around 675 thousand requests.

Specialists explained that the data on unemployment insurance claims in that country far exceeded the expectation of the consensus of economists, which stood at 1.7 million, showing the strong impact that the Coronavirus is having on employment.

The President of the United States Federal Reserve (Fed), Jerome Powell said that the North American economy could already be in a recession.

He warned that there will be a significant increase in the unemployment rate and a sharp drop in economic activity, but that eventually a return will be seen, supported by the actions of the central bank.

On the other hand, on Wednesday night the US Senate approved with 96 votes in favor and 0 against, the economic rescue plan for 2 trillion dollars, so now it will be the task of the House of Representatives to approve the plan to be ratified by Donald Trump . The package is expected to be approved on Friday without delay.

With information from Notimex

LSH