When starting operations the price of the dollar today Thursday is up to 20.38 pesos in banks. Meanwhile, the interbank exchange rate stands at 19.92 pesos per dollar, with a gain of 0.48 percent.
Citibanamex sells the dollar at 20.38 pesos, meanwhile BBVA Mexico does it at 20.21, Banorte at 20.15, Santander a 20.04 i Aztec Bank in 19.76 units.
The peso was appreciating below the $ 20 barrier at the hands of other emerging currencies, while the market waited for the monetary policy decision of the Bank of Mexico.
How is the exchange rate going?
Base Bank explained in a report that iThe exchange rate accumulated three consecutive downward sessions. In the last five sessions (taking into account last Friday) the weight has accumulated an appreciation of 2.18 percent or 44.5 cents.
“In the foreign exchange market there is a weak dollar, losing 0.13 percent and accumulating five consecutive sessions down, which has not happened since mid-November 2020,” he said.
The above, he explained that is due to the weakness of the dollar remains the expectation of widely flexible monetary and fiscal policies in the United States. In line with what was expected, the dollar has continued to weaken after yesterday the president of the Federal Reserve, Jerome Powell, Stressed the importance of providing more fiscal stimulus, especially due to the slow recovery that has been observed in the labor market.
The Fed chairman reiterated that it is still a long way from full employment, so the central bank will continue to use all its tools to support the economic recovery.
“In the session, the exchange rate performance could be influenced by the Bank of Mexico monetary policy decision scheduled for today, where the Governing Board is likely to cut the interest rate again by 25 basis points to 4 percent, ”he added.
However, a statement warning caution cannot be ruled out, mainly due to the evidence of inflationary pressures during January, in the face of monthly increases in the prices of petrol and food goods.
Among the most appreciated currencies this morning are those of emerging economies or commodity-producing countries. The South African rand is the most appreciated currency with 0.88 percent, followed by the Brazilian real with 0.84 percent, the Chilean peso with 0.67 percent, the Mexican peso, the Turkish lira with 0.44 percent and the Russian ruble with 0.43 per cent.
This behavior in the foreign exchange market is not associated with gains in the commodity market where mixed behavior is observed, observing losses in energy prices.
Dollar in real time
(…)the euros is sold over the counter at a maximum of 24.70 pesos and is bought at 24.19 pesos. For its part, the pound sterling is offered at 27.95 pesos and is purchased at 27.00 pesos.
The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 20.05 pesos per dollar.
With information from Reuters
MRA
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