Mexico City /
When starting operations the price of the dollar today Tuesday is up to 21.12 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.66 pesos per dollar, with a loss of 0.11 percent.
Citibanamex sells the dollar at 21.12 pesos per dollar, while BBVA Mexico does it at 20.92, Banorte at 20.90, Santander at 20.66 i Aztec Bank in 20.46 units.
The peso depreciated slightly against a strong dollar, which rose for the fourth consecutive day after a recent rise in bond yields.
How is the exchange rate going?
Base Bank explained in a report that the peso started the session with a depreciation, with the exchange rate trading between a low of 20.62 and a high of 20.78 pesos because the US dollar is strengthening again, the weighted index is advancing 0.10 percent against its main crossings, due to the upward trend in interest rates on Treasury bonds.
“In the money market, the 10-year Treasury bond yield rate shows an increase of 2.2 basis points, standing at 1.44 per cent, rising for the second consecutive session.
The above confirms that the downward movement of the exchange rate during Monday’s session was mainly a correction, but there is still a risk that the exchange rate will return to the resistance of 21.00 pesos per dollar in the short term.
In recent sessions “the exercise of the exchange rate has depended mainly on external factors. However, there are internal risk factors that could raise volatility again. Last night, Senate committees in Mexico went approve via fast track the minute of the reform to the Law of the Electrical Industry, without making any modification. Now, the reform will be discussed in the Senate Plenary and could be approved as soon as today. The legislative process would end with the enactment of the law in the Official Gazette of the Nation.
During the session, the exchange rate is expected to trade between 20.62 and 20.89 pesos per dollar.
Dollar in real time
(…)the euros it sells over the counter at a maximum of 25.37 pesos and is bought at 24.87 pesos. For its part, the pound sterling is offered at 29.10 pesos and is purchased at 28.15 pesos.
The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 20.61 pesos per dollar.
With information from Reuters
MRA
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