A combination of other factors has also influenced, in one direction or another, the evolution of the peso-dollar rate, including expectations related to the normalization of monetary policy in the United States, the perception of risk in international financial markets, and some concern about the electoral process in Mexico later in the year.
On the other hand, domestic interest rates have continued to follow an upward trend, a result both of monetary policy actions by the central bank and the behavior of external interest rates. It should be noted that Mexican financial markets have adjusted in an orderly way to the recent episodes of international turbulence.