Mexican president backs U.S. greenback as globe’s ‘principal forex’ By Reuters


© Reuters. FILE PHOTO: Mexico’s President Andres Manuel Lopez Obrador speaks throughout a information convention on the Secretariat of Safety and Civilian Safety in Mexico Metropolis, Mexico March 9, 2023. REUTERS/Henry Romero/File Photograph

MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador gave the U.S. greenback a vote on confidence on Monday after he was requested if a weakening buck would possibly spur a transfer to diversify Mexico’s international forex reserves.

“We’re going to proceed contemplating the greenback because the world’s principal forex,” Lopez Obrador informed a press convention.

“We have now adequate causes to not transfer to different currencies,” he stated, underscoring Mexico’s “more and more shut” financial ties to the US.

America is by far Mexico’s largest buying and selling companion, with each economies carefully built-in over many years in sectors starting from power, autos and agriculture.

The greenback remained weaker in opposition to most of its main friends on Monday as fears persist a couple of potential recession in the US later this yr.

Requested if he would suggest that the central financial institution diversify Mexico’s international forex reserves, Lopez Obrador stated that “even with a monetary disaster sooner or later, the greenback would proceed to be crucial forex on this planet”.

Regardless of considerations over recession, optimistic financial indicators helped push Mexico’s peso on Friday to its strongest degree in opposition to the greenback since 2017.

The Mexican president’s remarks comply with feedback from Brazil’s President Luiz Inacio Lula da Silva, a fellow leftist, wherein he expressed help for a substitute for the U.S. greenback for commerce in sure circumstances together with inside South America.



Source link

Related articles

Apple simply added extra frost to its Liquid Glass design

Apple’s new Liquid Glass design language simply received slightly extra… frosted. Within the third iOS 26 developer beta, Apple dialed again the transparency of navigation bars, buttons, and tabs that when allowed you...

RISKKILLER – SET UP GUIDE – Buying and selling Methods – 7 July 2025

RiskKILLER AI, is our new EA undertaking with Multi Property Danger diversified, Bitcoin boosted and AI assisted Danger administration. 📌 The idea https://www.youtube.com/watch?v=WKQ2Bx2bgpM...

Romero Video games says studies of its demise are enormously exaggerated

It appeared that Romero Video games might need shuttered as a consequence of the final week, however the studio continues to be alive and kicking. In to a on Bluesky, the...

Bitcoin To Repeat Parabolic Section From 2017 And 2021? Right here’s The Goal

Bitcoin is at the moment on the trail to holding a robust footing above $109,000 after reclaiming the $108,000 worth stage previously seven days. Notably, Bitcoin’s worth  has gained greater than $3,000 over...

10 Excessive Dividend Tech Shares For Development And Revenue

Revealed on July seventh, 2025 by Bob Ciura The know-how trade is among the most enjoyable areas of the inventory market, recognized for its excessive development and propensity to create large returns for early...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com