Mexico City /
When starting operations the price of the dollar today Thursday is up to 21.25 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.86 pesos per dollar, with a gain of 0.33 percent.
Citibanamex sells the dollar at 21.25 pesos per dollar, meanwhile Banorte does it on 21.10, BBVA Mexico a 21.08, Santander at 20.84 i Aztec Bank in 20.70 units.
The weight was seen in a market awaiting a speech by US Federal Reserve Chairman Jerome Powell, where he is likely to reiterate that monetary stimulus will be maintained for an extended period of time.
How is the exchange rate going?
Base Bank explained in a report that the peso is the most valued currency in the broad basket of major crosses, the result of a correction to yesterday’s losses, after the exchange rate respected the resistance of 21.00 pesos per dollar. The appreciation of the peso is also supported by a moderate downward correction in the interest rates on Treasury bonds. The 10-year bond rate is down 2.2 basis points and stands at about 1.45 percent.
Market participants are waiting for a lecture by Jerome Powell on the economic situation, where he is likely to reiterate the continuity of monetary stimuli for an extended period of time.
“It is unclear what the financial markets will react to their comments, as in recent weeks their comments in favor of maintaining a flexible monetary stance have a very short-term effect on bond market behavior and appear to be that market participants are alert to the evolution of economic indicators that point to an accelerated economic recovery, ”he said.
An additional factor that could renew upward pressure on Treasury bond rates is the likely approval in the coming days of fiscal stimulus in the U.S. Senate. It should be added that the United States Capitol received warnings of a possible attack by extremists on March 4. Due to the above, voting on the new stimulus package is likely to be delayed until the weekend.
In addition, today is key to the immediate future of oil prices, as the meeting between OPEC and its allies (OPEC +) will be held where an increase in production is expected to be allowed. oil company between 1 and 1.5 million barrels per day as of April. The reaction of the oil price will depend on the expected growth of the oil supply after the meeting.
Dollar in real time
(…)the euros is sold over the counter at a maximum of 25.55 pesos and is bought at 25.03 pesos. For its part, the pound sterling is offered at 29.40 pesos and is purchased at 29.09 pesos.
The Bank of Mexico (Banxico) The previous session recorded an exchange rate of 20.89 pesos per dollar.
With information from Reuters
MRA
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