Mexico City /
When starting operations the price of the dollar today Wednesday is up to 20.49 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.06 pesos per dollar, With a gain of 0.04 percent.
Citibanamex sells the dollar at 20.49 pesos, meanwhile Banorte does so at 20.35, BBVA Mexico at 20.32, Santander a 20.09 i Aztec Bank in 19.91 units. (Bank portal data)
the weight operated steadily after the U.S. inflation report widened dollar losses as the market waited to hear the U.S. monetary policy decision. Bank of Mexico and a speech by the president of the Federal Reserve.
How is the exchange rate going?
Base Bank explained in a report that in the foreign exchange market the performance of the currencies against the dollar is mixed and the weighted index of the dollar shows no changes with respect to yesterday’s close. It is important to mention that both emerging economies and advanced economies and refugee currencies are losing ground, so there is no pattern that denotes a greater perception of risk.
“The most depreciated currencies are the Brazilian real with 0.79 percent, the New Zealand dollar with 0.43 percent, the Czech koruna with 0.40 percent, the Chinese yuan with 0.25 percent and the Japanese yen with 0.19 percent,” he said.
The stability of the exchange rate and the little variability of the weighted index of the dollar, can be due to the fact that the market is attentive to a conference of the president of the Federal Reserve, Jerome Powell in front of the Economic Club of New York, today where he will talk about the job market.
“A message that once again confirms that monetary policy will remain broadly flexible despite the fiscal stimulus proposed by the administration of Joe Biden, Could cause an additional weakening of the dollar against its major crossings. However, this does not mean that the Mexican peso will continue to appreciate in the short term, as Mexico faces several internal risks which elevates the perception of relative market risk, ”he mentioned.
Analysts predict among the risks the low availability of vaccines against covid-19, the absence of a fiscal policy against cyclical that will allow a faster economic recovery and the impetus for reforms that have the ability to inhibit investment and potential economic growth, such as electricity reform to be discussed in the coming days.
During the session, the exchange rate is expected to trade between 20.06 and 20.24 pesos per dollar.
Dollar in real time
the euros is sold over the counter at a maximum of 24.80 pesos and is bought at 24.31 pesos. For its part, the pound sterling is offered at 28.05 pesos and is purchased at 27.75 pesos.
The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 20.09 pesos per dollar.
With information from Reuters
MRA
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