When starting operations the price of the dollar today Wednesday was up to 21.06 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.64 pesos per dollar, with a gain of 0.07 percent.
Citibanamex sells the dollar at 21.06 pesos per dollar, while Banorte it does it in 20.90 pesos, BBVA Mexico at 20.81, Santander at 20.67 i Aztec Bank in 20.60 units.
The peso showed slight movements due to investor caution waiting for the US Federal Reserve (Fed) monetary policy announcement scheduled for tomorrow.
How is the exchange rate going?
Base Bank explained in a report that the peso ranks as the tenth most appreciated currency in the session. The most appreciated currencies are the Turkish lira with 0.67 percent, the South Korean won with 0.59 percent and the Brazilian real with 0.51 percent.
In the foreign exchange market, the weighted index of the dollar remains stable, advancing only 0.01 percent since last Friday, which is consistent with what is happening in the bond market, as the rate of Treasury bonds at 10 years old it shows few changes and is down 2 basis points since last Friday.
The caution of the markets is due to the fact that they are waiting for the announcement of the monetary policy of the Federal Reserve scheduled for tomorrow. The monetary policy board begins today and the interest rate and bond purchase program are expected to remain unchanged.
However, it will be relevant to update the expectations of inflation, economic growth, unemployment and the path expected by the Open Market Operations Committee for the interest rate. An adjustment of expectations to a more favorable scenario could have an effect in favor of the US dollar in the short term.
On the other hand, the administration of Joe Biden is planning the largest increase in taxes since 1993 and according to people familiar with the subject, some proposals include increasing the corporate tax from 21 to 28 percent, as well as increasing the income tax. people earning more than $ 400,000.
The measure would imply a more restrictive fiscal policy and raise the likelihood that profits will be limited in the capital markets of United States as details are published.
en Mexico little relevant economic information is expected to be published during the week, the Timely Indicator of Economic Activity for February on Thursday, as well as aggregate supply and demand statistics for the fourth quarter of 2020, on Friday 19th.
Dollar in real time
(…)the euros it is sold over the counter at a maximum of 24.96 pesos and is bought at 24.48 pesos. For its part, the pound sterling is offered at 29.00 pesos and is purchased at 28.58 pesos.
The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 20.76 pesos per dollar.
With information from Reuters
MRA
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