BBVA, Latam top FX ForecasterNovember 15, 2012
BBVA Research team at Corporate & Investment Banking repeats the first position at Bloomberg ranking for best forecasters on FX Latam.
As every quarter, Bloomberg elaborates and discloses a ranking with the most accurate foreign exchange forecasters according to how precise their forecasts have been in predicting the performance of Latin American currencies against the US dollar. BBVA leads the ranking as the best overall FX forecaster for Latin America as it did in the mid-year results. Besides, as of September 2012, BBVA has improved its results: analysts' forecasts have improved from a margin error of 6.04% to 5.74%, which makes BBVA the only entity with an average deviation below 6%, together with JP Morgan.
This first position as top FX forecaster in Latin America is the result of the good performance of BBVA analysts who have submitted their forecasts over the last six quarters from April 2011 to September 2012, plus another annual forecast done on 30th, September 2011 to prove the long term accuracy.
BBVA has also obtained the first position as the best forecaster of Mexican peso against the US dollar, up from third place achieved in the last ranking done by Bloomberg on June 2011.
These good results show the soundness that BBVA mantains year after year and that allow the Group to position itselfs as one of the most preferred financial entities by the clients. On December 2011, ‘FX Week' magazine already recognized this progress by including BBVA in its rankings as the second best bank in services provided to corporate clients in Latin American currencies.