Dollar Price March 12

At the start of operations the price of the dollar today Friday is up to 21.25 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.76 pesos per dollar, with a loss of 0.80 percent.

Citibanamex sells the dollar up to 21.25 pesos, while BBVA Mexico he did it on 21.04, Banorte at 21.05, Santander at 20.80 i Aztec Bank in 20.84 units.

He lost weight in front of himas pressures due to speculation that the Federal Reserve may adopt a less flexible monetary stance in the face of the accelerated economic recovery in the United States.

How is the exchange rate going?

Base Bank explained in a report that the weight starts the session with a depreciation in the face of a return of upward pressures on the US dollar. In the foreign exchange market, almost all currencies in the broad basket of major crossings show a depreciation.

“The Mexican peso was the most depreciated currency, although it cut losses as of 7:30 a.m., when the Producer Price Index was released in the United States,” he referred.

In recent weeks, the market has turned its attention to price indicators in the United States, in the face of speculation about inflationary pressures and, as a result, it is believed that they could cause the Fed to moderate its monetary stance, which has so far largely accommodating state.

“The strengthening of the dollar continues to be associated with upward pressures on interest rates in the bond market, with the 10-year Treasury bond rate advancing 5.4 basis points to 1.59 percent, touching a high of 1.61 percent, close to a year-high of 1.62 percent, ”he said.

The pressure is due to persisting speculation that the Federal Reserve may adopt a less flexible monetary stance in the face of the accelerated economic recovery in the United States. Although on average, US economic growth expectations in 2021 are close to 5 percent, which was already considered an optimistic scenario, some market projections are between 6 and 7 percent.

To the above he adds that yesterday Joe Biden enacted the $ 1.9 trillion Coronavirus Relief Act. On the other hand, during his press conference Biden said that by May 1 all American adults will be eligible for vaccination, hoping to begin with the full reopening of their economy by early July.

Dollar in real time

(…)(…)the euros it is sold over the counter at a maximum of 25.27 pesos and is bought at 24.78 pesos. For its part, the pound sterling is offered at 29.30 pesos and is purchased at 28.86 pesos.

The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 20.71 pesos per dollar.

With information from Reuters

MRA

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