When starting operations the price of the dollar today Monday is up to 20.38 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.20 pesos per dollar, with a loss of 0.62 percent.
Citibanamex sells the dollar at 20.59 pesos, meanwhile Banorte does it at 20.40, BBVA Mexico at 20.38, Santander at 20.10 i Aztec Bank in 19.20 units.
The peso depreciated at the beginning of a week in which relevant economic information will be known, such as local inflation data and the monetary policy announcement of the Bank of Mexico, While the market waits for news about a new tax support program in United States.
How is the exchange rate going?
Base Bank explained in a report that the peso started with a depreciation due to a moderate strengthening of the US dollar moving forward against most currencies, and the Mexican peso the second most depreciated after the South African rand loses 0.71 percent, followed by the Hungarian forint losing 0.51 percent and the Swedish krona by 0.50 percent.
“In United States, Janet Yellen he pointed out the importance of approving robust fiscal stimuli to drive economic recovery, especially the recovery of the labor market. The Secretary of the Treasury indicated that with the right supports, full employment could return to 2022. However, if the necessary stimuli are not given, the labor market could take a long time to recover by 2025, “he said. detailed.
For the above, Yellen’s comments raise the likelihood that the Biden administration will push for an expansionary fiscal policy in the coming months, with capital markets starting the week on the rise.
In relevant news, the Ministry of Finance reported that from Friday the stimulus in the collection of the Special Tax on Production and Services (IEPS) of gasolines. The stimulus is 2.79 percent per liter for gasoline less than 91 octane, so consumers will now pay about 4,9719 pesos per liter, instead of 5,1148 pesos.
On the other hand, it is circulating in the media that today the Bank of Mexico, the Ministry of Finance and the Bank of Mexico Association will present a proposal to support migrants and their families to address the problem raised in the reform of the Law of the Bank of Mexico.
“This is a mechanism for Mexican families to exchange cash dollars nationally through the Welfare Bank. It is important to remember that the proposal to reform the Bank of Mexico Act had generated a greater perception of relative risk. on the Mexican economy, as it attacks the autonomy of the Central Bank. In this sense, today’s proposal will be relevant as it could reduce or eliminate the probability that the autonomy of Banxico will be violated, “he recalled.
Dollar in real time
the euros is sold over the counter at a maximum of 24.75 pesos and is bought at 24.24 pesos. For its part, the pound sterling is offered at 28.20 pesos and is purchased at 27.61 pesos.
The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 20.13 pesos per dollar.
With information from Reuters
MRA
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