Mexico City (.) – The Mexican peso appreciated this morning, but was on track to record its steepest quarterly decline since late 2008, as the world is paralyzed by the rapid spread of the coronavirus and oil prices have plummeted.

Meanwhile, the stock market was advancing on opportunity purchases after having registered sharp falls amid the wave of volatility that has hit financial markets.

* The local currency was trading at 23.4180 per dollar, with a 1.56% gain, compared to 23.7880 in the . reference price on Monday. The currency was showing a cumulative decline between January and March of almost 24%.

* The peso was gaining on Tuesday after a positive report on Chinese factory production and that the Mexican Foreign Exchange Commission announced the first auction of credit in dollars for up to 5 billion dollars the day before as part of a series of measures to provide liquidity to the local interbank market.

* The Mexican government declared a health emergency on Monday after reaching 1,094 infected and 28 deceased by coronavirus, a decision that includes deepening measures to prevent the spread of the one that has claimed the lives of some 37,500 people around the world.

* “The measure is probably late compared to the response of other countries and, although the official number of reported cases is still relatively low, the health and economic cost for Mexico will probably be one of the highest on the planet,” wrote analysts at Monex Europe.

* The benchmark S & P / BMV IPC stock index rose 2.30% to 34,987.66 points, with a volume of 67.4 million traded securities, at 10.36 local time (1636 GMT)

* The place is aimed at registering a cumulative drop in the quarter of over 19%.

* In the debt market, the yield on the 10-year bond fell 18 basis points to 7.17%, while the 20-year rate fell eight, to 7.88%. (Report by Miguel Angel Gutiérrez)

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