The Vector financial group presented this Wednesday its financial and investment perspectives for this 2023.
In an event held in a hotel in the city, the economists of this financial institution The strength of the Mexican peso and its forecast for the end of the year stood out.
Edgardo Cantú Delgado, executive president of Vector Empresas and general director of Vector Casa de Bolsa, welcomed the attendees and spoke about the growth of the company.
Rodolfo Navarrete Vargas, chief economist at Vector Empresas, spoke about the country’s economic situation and said that the most important challenge comes from the United States economy.
If the US economy contracts it will affect us. The banking crisis is going to have a negative economic effect in the United States,” he specified.
The specialist predicted growth of 1.6 percent for this year in Mexico and estimated that by the end of the year the exchange rate will be around 18.70 to 18.80 pesos per dollar.
He explained that the strength of the peso is due to conjunctural factors and structural such as the behavior of the dollar.
“The day the dollar depreciates, it depreciates against the rest of the currencies of the rest of the world and vice versa if the dollar appreciates, the peso depreciates.”
In structural terms, the exchange rate has done this behavior for the Mexican macroeconomic fundamentals such as the current account deficit of the balance of payments.
In addition, another influencing factor is the Mexican interest rate that is very high and Mexico’s country risk is relatively low, he said.
Rodolfo Navarrete Vargas presented the conference “From inflation to recession” and estimated that there has been inflation with economic growth.
The Inegi reported a growth of 3.3 percent in the first two months of the year, higher than the 2.6 percent historical averages in recent years.
“It is probable that in the next two months we will see a significant slowdown, but depending on the United States if the United States slows down Mexico will follow”, he added.
Luis Alfredo de Urquijo, Director of Asset Management at Vector Casa de Bolsa, presented the paper A better year? Where and how to invest? and said that it is time to buy dollars but through various variable income instruments in international assets that have a hedge in dollars.
“If one considers investment in variable income, one is at the same time buying coverage,” he explained.
Mexican Economy Vector Mexican Peso
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