When starting operations the price of the dollar today Friday is up to 21.37 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.87 pesos per dollar, with a loss of 0.13 percent.
Citibanamex sells the dollar at 21.37 pesos per dollar, meanwhile BBVA Mexico does it in 21.23, Santander at 20.92 i Aztec Bank in 20.71 units.
the weight operated with a slight loss in line with most emerging market currencies, while foreign exchange market investors assessed the sharp rises in bond yields. treasure and other global rates.
How is the exchange rate going?
Base Bank explained in a report that the weight starts the session with a depreciation observing a lateral behavior during the overnight around 20.90 pesos per dollar. In recent days, particularly yesterday, the price range was wide, due to upward pressures on interest rates in the bond market. United States.
“This morning the bonds appear to have stabilized, with the 10-year rate showing a decrease of 5.8 basis points and standing at 1.46 per cent,” he said.
The low demand in the primary bond market, which was already reflected in the secondary market since the end of January, was the result of a reduction in risk exposure in the face of possible changes in the future of the position. Fed.
While Federal Reserve officials have reiterated that they will keep the interest rate unchanged and liquidity injections will continue, solid economic indicators for the U.S. economy are prompting a similar reaction to the “Taper Tantrum.” in 2013, when rates reacted to the rise in the face of the announcement of a gradual normalization of monetary policy after the Great Recession of 2008-2009.
It should be remembered that there is an inverse relationship between the interest rate and the price of a bond, so rate increases imply losses in the value of portfolios in the short term.
In the foreign exchange market the US dollar continues to show strength, with the weighted index advancing 0.30 percent, after rising 0.64 percent yesterday. Most currencies in the broad basket of major crossings are losing ground this morning, with the Indian rupee at 1.41 per cent, the South Korean won at 1.37 per cent, the Australian dollar at 1.28 per cent and the Turkish lira the most depreciating. with 1.10 percent.
It should be noted that the strengthening of the US dollar during yesterday’s session was due to a sharp rise in interest rates on Treasury bonds in the United States, mainly near noon, after a $ 62 billion 7 – year treasury bond auction, with a 2.04 – fold demand, the lowest since 2009, while the difference between the pre – auction rate and the highest rate at the auction was 4.2 basis points, something not seen before by similar placements.
Dollar in real time
the euros is sold over the counter at a maximum of 25.88 pesos and is bought at 25.38 pesos. For its part, the pound sterling is offered at 29.22 pesos and is purchased at 29.21 pesos.
The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 20.85 pesos per dollar.
With information from Reuters
MRA
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