Dollar Price March 8

When starting operations the price of the dollar today Monday is up to 21.89 pesos in banks. Meanwhile, the interbank exchange rate stands at 21.50 pesos per dollar, with a gain of 0.95 percent.

Citibanamex sells the dollar at 21.89 pesos per dollar, meanwhile Banorte it does so at 21.85 pesos, BBVA Mexico at 21.69, Aztec Bank in 21.93 units i Santander at 21.40 units.

The peso depreciated to its worst level in more than four months, as the US dollar rose and there was a general rise in bond yields. United States Treasury.

How is the exchange rate going?

Base Bank explained in a report that the strengthening of the dollar is still sustained in the expectation of a solid economic recovery in the United States, which could lead to an increasingly less accommodative monetary policy. In the bond market, the 10-year Treasury bond yield rate shows an increase of 3.3 basis points, standing at 1.60 per cent, close to the year-on-year high of 1.6 per cent.

Notably, in the United States, the Senate approved the $ 1.9 trillion stimulus package proposed by Joe Biden. The House of Representatives is now expected to vote tomorrow Tuesday for approval of this version, to then send it to the White House.

Meanwhile, today at 9:00 a.m., Treasury Secretary Yanet Jellen will give a lecture at an International Monetary Fund event on women in the economy. He is unlikely to make major announcements about U.S. fiscal policy, so no exchange rate moves are expected for his participation in the event.

In the commodities market, the price of WTI starts the session with a decline of 0.29 percent, standing at around $ 65.90 per barrel. During the night it reached a maximum of 67.98 DPB, a new maximum in the year and a level not seen since October 23, 2018. Oil prices could continue their upward trend, after last week OPEC and allied countries decided not to significantly raise oil production, although demand is in a recovery stage. .

In terms of economic indicators, in February the Consumer Confidence Indicator stood at 38.4 points, representing zero growth compared to January and after the previous two months there was greater optimism due to the start of the vaccination plan.

The stagnation in consumer confidence was mainly due to the deterioration of epidemiological conditions during the first half of February, which caused thirteen country states to be located at the red epidemiological traffic light. Consumer confidence is 4.9 points below the level observed 12 months ago.

Real time dollar

the euros is sold over the counter at a maximum of 25.95 pesos and is bought at 25.42 pesos. For its part, the pound sterling is offered at 30.20 pesos and is purchased at 29.59 pesos.

The Bank of Mexico (Banxico) The previous session recorded an exchange rate of 21.26 pesos per dollar.

With information from Reuters

MRA

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