Weight falls to all-time low and BMV falls back due to coronavirus

The weight exceeded 24 dollars in its twelfth consecutive session to a new record low and BMV fell back due to fears of the coronavirus

Televisa News SOURCE: reuters FROM: CDMX, México

Mexican peso. (Getty Images, file)

The Mexican peso depreciated on Wednesday for the twelfth consecutive session to a new record low and the Bolas Mexicana de Valores (BMV) fell back in a volatile session, due to persistent fears about the economic impact of coronavirus and a sharp decline in oil prices.

We recommend: Fear of the coronavirus causes falls in stock indexes

The currency cut some of its losses since the Banco de México started auctioning during session 2, 000 millions of dollars in its foreign exchange hedging program aimed at facing the collapse in the foreign exchange market.

– The peso was quoted in 23. 8710 for dollar at 14: 20 local time (2020 GMT), with a depreciation of 4. 07% vs. 22. 9367 from the Reuters reference price on Tuesday.

– Minutes before four auctions called by the central bank began, in which it assigned 1, 531 million dollars, the peso fell to 24. 08 units, a new all-time low.

– The Mexican currency accumulates in the year a setback of more than one 26%.

– Hundreds of millions of people worldwide were adapting on Wednesday to extraordinary measures to combat the coronavirus pandemic, which is not only killing the elderly and vulnerable , but also threatens a long period of economic misery.

– The benchmark stock index, the S & P / BMV IPC, yielded a 3. 61% to 36,532. 74 points, with a volume of 293. 1 million titles traded.

– Highlighted the collapse of a 22.78% to 17. 76 weights of the titles of the restaurant operator Alsea. On the eve they fell a 30. 72%.

– Oil prices fell on Wednesday for the third consecutive session, with US oil futures falling to a low of 18 years and over 16 in the case of Brent.

– Analysts mentioned that a lower price of crude oil increases the risk of a cut to the credit rating of the Mexican state oil company Pemex and the country's sovereign debt.

– In the debt market, the yield of the bond at 10 years rose 37 8 base points. 22%, as well as the rate a 20 years closed at 8. 58%.

With information from Reuters.