AMLO Confident Economic Stability: Peso could close below 20

President Andrés Manuel López Obrador expressed confidence that the dollar will remain below 20 pesos by the end of his term.

“We received it at 20.40 or 20.50 pesos per dollar, and now it’s at 19.88 pesos,” he said during his morning press conference.

The president highlighted the peso’s stability and assured that his administration has maintained a strong economic situation for Mexico.

“It’s a good sign of our economic policy. The peso has resisted devaluation, despite external factors,” López Obrador emphasized.

Andres Manuel López Obrador Assures Economic Stability with a Strong Peso at the End of His Term

He noted that his adversaries attempt to discredit his government by claiming the dollar will surpass 20 pesos before his term ends.

“It’s just a campaign. They always look for ways to attack us, but the facts show the opposite,” the Mexican president assured.

López Obrador also celebrated the decrease in inflation in August, according to Inegi data, which showed a drop to 4.99% that month.

“This confirms that our economic policies are working. We have endured despite global challenges,” the president noted.

He affirmed that the markets are not afraid of the judicial reform, as some suggest, and that foreign investment continues to flow into the country.

“On the contrary, we are receiving more investments. What they seek is security and a genuine rule of law,” he explained during the conference.

López Obrador insisted that, even if the peso devalues, his term will be the one with the least devaluation in the last 50 years.

“In 50 years, there hasn’t been a term with less devaluation than ours, even with 20 days remaining,” the president emphasized.

Regarding this, the president denied that his judicial reform, which seeks to have judges elected by popular vote, is creating market uncertainty.

“It has nothing to do with that, investors are confident in Mexico,” López Obrador said, addressing opposition criticisms.

Finally, the president expressed optimism, concluding that his government will leave a legacy of economic and financial stability for the country.

“We are going to finish strong. I’m sure the peso will close below 20 pesos per dollar,” the president reiterated.