The Mexican peso ended May 21 with a modest depreciation, shaped by Banxico meeting minutes and Middle East developments.
The exchange rate settled at 17.2963 pesos per dollar, marking a 0.05 percent decline or 0.91 cents from the previous close.
Traders digested the latest Banxico meeting minutes as markets tracked headlines on possible agreements in the Middle East. The dollar index rose 0.08 percent to 99.26 points.
Monex analysts stated that Banxico will keep its benchmark interest rate at 6.50 percent at the June 25 meeting and likely hold it steady for the rest of the year. At bank windows the dollar traded at 17.71 pesos, according to Banamex data.
