When starting operations the price of the dollar today Monday is up to 20.47 pesos in banks. Meanwhile, the interbank exchange rate stood at 19.98 pesos per dollar, with a loss of 0.67 percent.
Citibanamex sells the dollar at 20.47 pesos, while BBVA Mexico does it at 20.29, Banorte at 20.20, Santander in 19.98 and Aztec Bank in 19.81 units.
The peso depreciated in a mixed session by currencies from emerging countries, while investors evaluated the formalization of a stimulus plan to United States, As well as the worldwide distribution of covid-19 vaccines.
How is the exchange rate going?
Base Bank explained in a report that the depreciation of the peso is due, in part, to a greater perception of relative risk over Mexico, after the Secretary of Energy reduced the duration of fuel import and export permits by the private sector from 20 to 5 years, which will have a negative effect on investment in the country and, therefore, on the pace of economic recovery .
It should be noted that during the last sessions of the year there was a decrease in the volume of transactions in the foreign exchange market, which tends to cause quiet sessions, but raises the risk of episodes of volatility in the face of news or other events.
“Most currencies are gaining ground against the dollar, by lowering risk perception, after President Donald Trump signed the $ 900 billion stimulus package tied to the budget over the weekend of expenditure for fiscal year 2021 of $ 1.4 trillion “.
He noted that the new stimulus package includes $ 300 a week in unemployment support available through March 14, it also includes a round of direct checks of $ 600 per person, as well as funding for schools, small businesses and for the distribution of covid vaccines19, among other supports to drive economic recovery.
“It is likely that covid-19 will continue to be the source of unfavorable news globally, so market optimism could be temporary,” he considered.
Dollar in real time
the euros it sells over the counter at a maximum of 24.75 pesos and is bought at 24.43 pesos. For its part, the pound sterling is offered at 27.25 pesos and is purchased at 26.97 pesos.
The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 19.85 pesos per dollar.
With information from Reuters
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MRA