Mexican investment bank Monex has reported an eight percent growth in its capital-protected notes issuance during the third quarter of 2020 compared with the same period a year prior.
According to Ricardo Guido ( pictured ), director at Monex, interest rates in USD are almost at zero while rates in MXN have decreased to their lowest levels in recent years. “More clients are looking to enhance their results while protecting their capital,” he said. Dual currency deposit issuance has decreased and are perceived as riskier products despite offering attractive rates. But volumes during the second quarter were more than double what was sold during the third quarter.
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