Mexican Peso Reaches Strongest Level Against Dollar Since 2015
Despite the current strength of the peso, the Bank of Mexico predicts the peso-to-dollar exchange rate will rise above 18 to 1 by the end of the calendar year
Read moreTag Archives: Banco BASE
Mexico’s Country Risk Indicator up 45.9 Percent from 2017
Mexico fell to 11th place in 2023 from its fifth place ranking in 2017, placing Mexico’s economy in the bottom half of the 17 Latin American economies considered by Emerging Markets Bond Index compiled by JP Morgan Chase
Read moreUnemployment Down in Mexico, but Informal Economy Up
One of the pressing concerns for Mexico in the coming years is the high level of informal labor and those joining the informal economy
Read moreInternal Economic Policies in Mexico Accelerate Capital Flight
By MARK LORENZANA In the second quarter of this year, outflow of capital from Mexico totaled $5.74 billion, a figure 88.9 percent higher than the previous quarter. For the ninth consecutive quarter, the country has registered capital flight, according to figures from the Central Bank of Mexico (Banxico). Gabriela Siller, director of economic analysis at Banco Base, explained that the covid-19 pandemic
Read moreUncontrolled Inflation in Mexico Increases Food Prices
By MARK LORENZANA Mexico’s National Institute of Statistics and Geography (Inegi) announced on Tuesday, Aug. 23, that during the first 15 days of this month, the National Consumer Price Index (INPC) increased 0.42 percent, bringing the country’s annual rate of inflation to 8.62 percent. According to the Inegi, the INPC recorded its highest level since the second half of December
Read moreMexican Economy Contracts for Third Trimester in a Row
By THE PULSE NEWS MEXICO STAFF Despite repeated promises from President Andrés Manuel López Obrador (AMLO) of a 6-percent economic growth in 2021, Mexico registered a 0.2 percent contraction last quarter, marking three straight trimesters in a row of decline in the nation’s gross domestic product (GDP), according to statistics provided Wednesday, Jan. 19, by the National Institute of Statistics
Read moreCapital Flight from Mexico up 1,147 Percent in Third Quarter
By THE PULSE NEWS MEXICO STAFF During the third trimester of 2021, portfolio investment in Mexico registered nearly $14.6 billion in capital flight, both foreign and national, representing a 1,147 percent increase compared to the $1.17 billion that left the country during the same period of 2020. The 2021 third quarter figure is the largest capital exodus recorded for any
Read moreAdditional Interest Rate Increases Expected from Banxico
By THE PULSE NEWS MEXICO STAFF After Mexico’s Central Bank (Banxico) shocked financial markets with a surprise .25 interest rate hike on Thursday, June 24, analysts are now predicting that the bank will issue additional increases this year to combat surging inflation, which reached more than 6 percent in May.Banxico raised its key rate to 4.25 percent in a split
Read moreRemittances to Mexico Surge by 39 Percent
By KELIN DILLON Mexicans working abroad in the United States who send money back home to their families in Mexico, better known as remittances, increased the amounts they sent by 39.1 percent in April, the largest surge in remittances the country has seen in 18 years. Remittances reached $4.047 billion in April, more than $1.5 billion dollars more than recorded
Read moreAirspace Devaluation Will Hurt Mexico’s Tourism
By KELIN DILLON Analysts say Mexico’s international tourism could massively suffer as a result of the U.S. Federal Aviation Administration (FAA) downgrading its airspace ranking on Tuesday, May 25, from a category one to a category two, effectively limiting the country from opening new air routes or flying Mexican airlines into the United States. The downgrade came after a less-than-stellar
Read more