Recently, the peso had its best week in the last nine years, posting one of the biggest gains among the world’s most traded currencies. This, so-called, “relief rally” started just after the preliminary official results of the Mexican presidential election were made public, which was no coincidence.
Andrés Manuel López Obrador won the Mexican presidential election with an impressive 53% of the total vote, and he will take office as Mexico’s new president on Dec. 1. Surprisingly, for some, many indicators, such as the currency exchange, the stock market and public statements made by business organizations once opposed to López Obrador’s campaign, seem to signal that the market has reacted positively to his victory.
As the new administration continues to offer additional insight into its policies, it appears that Mexico will continue to offer a business-friendly environment.
Read the full article at pgonline.com.