Mexico City /
When starting operations the price of the dollar today Thursday was up to 20.75 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.57 pesos per dollar, with a loss of 0.90 percent; yesterday after the announcement of US Federal Reserve monetary policy lthe currency was trading at 20.37 pesos per dollar.
Banorte sells the dollar at 20.75 pesos per dollar, meanwhile BBVA Mexico does so at 20.72, Aztec Bank at 20.40 i Santander in 20.37 units.
The peso depreciated in line with most of its peers in emerging countries, dragged down by a stronger dollar strength and a rise in bond yields. United States Treasury, In the face of the expectation of an inflationary rise in this country.
How is the exchange rate going?
Base Bank explained in a report that the Mexican peso starts the session with a depreciation trading around 20.57 pesos per dollar, with the exchange rate touching a low of 20.28 and a high of 20.59 pesos per dollar.
In global financial markets speculation has resumed that inflation a United States could accelerate, after yesterday the Federal Reserve did not change its expectations for the expected interest rate to remain unchanged until 2023, at the same time as it raised expectations of inflation and economic growth .
Due to speculation that inflation could accelerate, the bond yield rate of the treasure at 10 years shows an increase of 9.6 basis points, standing at 1.74 percent, touching a maximum of 1.7 percent not seen since January 24, 2020. Likewise, the rate at 30 years rises 8.2 points base, standing at 2.5 percent, levels not seen since August 1, 2019.
“There are still internal factors that elevate the vulnerability of the Mexican peso to speculation against it. Yesterday the president of Mexico noted that it was determined that the reform in the Electricity Industry Act it is unconstitutional, it will send an initiative to reform the constitution, even if two-thirds of Congress is needed for approval. This could raise the perception of risk in relation to Mexico, raising in turn the risk of greater volatility in the exchange rate, “he said.
Dollar in real time
(…)the euros it is sold over the counter at a maximum of 24.86 pesos and is bought at 23.85 pesos. For its part, the pound sterling is offered at 28.85 pesos and is purchased at 23.85 pesos.
The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 20.68 pesos per dollar.
With information from Reuters
MRA
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