Latin American Currencies Gain Amid Commodity Price Surge; Mexican Peso Appreciates, Colombian Peso Sees Uptick

On Tuesday, Latin American currencies generally strengthened against the dollar, driven by rising commodity prices. The Mexican peso closed higher, although gains were tempered by risk aversion linked to potential stagnation in US-Russia negotiations. The exchange rate concluded at 20.2732 pesos per dollar, a 0.13% appreciation from the previous close reported by Banco de México (Banxico). The Colombian peso also experienced a shift, with the dollar closing at 4,111.37 pesos, marking a rise compared to the previous day's close of $4,128.21. This figure represents the highest value of the week, surpassing 4,110.00 pesos for the first time since February 13. Mexico's BMV IPC stock index rose by 0.34% to 54,476.74 points, its highest closing level since July of the previous year.