The Mexican peso continues to drop as the dollar has exceeded the value of more than 19.55 pesos this week. The president of Mexico, Andrés Manuel López Obrador issued his position on this alarming landscape and spoke about the plunge of world markets and claimed that the country's economy was not affected that much.

"We still have a protection margin, we are not affected that much because our finances are very strong. We are of course neighbors of the United States, there is economic integration, it affects Japan and the world, but we can resist a little bit more," the president said.

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During his Monday morning press conference, the president said that there are two reasons why the Mexican economy is strong: because there are enough reserves and because the peso had a recent historic appreciation.

Nevertheless, we will be providing more information midweek, we are going to wait, because there is always uneasiness in the financial markets, there is a tendency for control to be reestablished.

It should be noted that market instability began at the end of last week and it has been mainly ascribed to the unemployment rate increase in the United States, which rose to 4.3%, according to the Bureau of Labor Statistics (BLS).

"The Mexican peso is strongly depreciating against due to a greater chance of an economic downturn or even a recession in the United States for the remaining of this year. This affects Mexican due to less exports, remittances, and direct foreign investment," Gabriela Siller, economic analyst of Banco Base, said.

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