When starting operations the price of the dollar today Thursday is up to 20.67 pesos in banks. Meanwhile, the exchange rate interbank is located at 20.31 pesos per dollar, With a loss of 0.52 percent.
BBVA Mexico sells the dollar at 20.67, Banorte at 20.60, Santander at 20.45 i Aztec Bank in 20.11 units.
the weight depreciated despite a global decline in the dollar, due to investor nervousness about the effects of bad weather, mainly in United States, On the energy sector.
How is the exchange rate going?
Base Bank explained in a report that while the weight loses, in the foreign exchange market, most currencies gain ground, highlighting the Chilean peso with 0.75 percent, the South African rand with 0.74 percent, the pound with 0.60 percent hundred and the Norwegian krone with 0.47 percent, in which mostly foreign exchange from commodity-producing countries.
In the commodity market, they continue to see increases in energy prices, with the WTI rising 0.67 percent to $ 61.55 per barrel, reaching a maximum not seen since January 8, 2020, of $ 62.26. For its part, gasoline increases 0.59 percent and natural gas 1.12 percent, as a result of the energy crisis in the state of Texas that has forced the suspension of 40 percent of oil production at the national level.
It should be noted that energy commodities are not the only commodities whose prices have been pushed upwards. Industrial metals also kicked off with gains, amid rising demand from China, a country returning from holiday after the Lunar New Year celebrations. In view of this, the price of copper reached a maximum not seen since February 28, 2012 of 8 thousand 652 dollars per metric ton, while the price of aluminum touched a maximum not seen as of October 5, 2018, $ 2,167 per metric ton.
This morning the dollar-weighted index shows a decline of 0.24 percent, having advanced 0.64 percent in the previous two sessions. It is important to note that, although some currencies could gain in the short term due to increases in commodity prices, the effect of the shock on the energy market on the real economy is negative, with direct repercussions on the economy of the southern United States and mainly Mexico. Yesterday afternoon, Texas Gov. Greg Abbott announced that he will ban the export of natural gas until Feb. 21, to ensure power supply to its territory as millions of users remain without service.
Although the resumption of electricity supply nationwide has been announced, the government has called on companies to reduce their natural gas consumption in the face of shortages in Mexico. In line with the request, General Motors announced the suspension of activities at the Guanajuato plant. Volkswagen, Audi and Mazda also reported that they will stop production of some models at plants in Mexico. Automotive companies said they will resume operations when gas supplies are optimal, which could happen over the weekend. On the other hand, some supermarkets will reduce the production of bread and omelette, thus reducing their gas consumption.
Dollar in real time
(…)the euros is sold over the counter at a maximum of 25.12 pesos and is bought at 24.68 pesos. For its part, the pound sterling is offered at 28.80 pesos and is purchased at 28.50 pesos.
The Bank of Mexico (Banxico) The previous session recorded an exchange rate of 20.22 pesos per dollar.
With information from Reuters
MRA
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