(Source: Info-Prod Research (Middle East))According to the Central Bank, since April, the nominal exchange rate has depreciated. Immediately after the Bank announced its reserves purchase program, the parity rose between $15 and $20. Subsequently, together with changes in developed economies' performance evaluation, price swings in commodities, especially copper and oil, and local developments in the inflation and output scenarios, the parity depreciated further, to 510 and 525 pesos per US dollar in the two weeks prior to the statistical closing of this Report, some 13% higher than the figures in May's Report.

Originally published by Info-Prod Strategic Business Information.

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