When starting operations the price of the dollar today Friday is up to 21.69 pesos in banks. Meanwhile, the interbank exchange rate stands at 21.37 pesos per dollar, with a gain of 1.23 percent.
Citibanamex sells the dollar at 21.69 pesos per dollar, meanwhile BBVA Mexico does it at 21.52, Banorte at 9.35 pm Santander a 21.23 i Aztec Bank in 21.05 units.
The weight was seen in a market awaiting a speech by US Federal Reserve Chairman Jerome Powell, where he is likely to reiterate that monetary stimulus will be maintained for an extended period of time.
How is the exchange rate going?
Base Bank explained in a report that the peso starts the session with the exchange rate hitting a low of 21.08 and a high of 21.41 pesos per dollar, a level not seen since November 4, 2020. For a few moments, the Mexican peso was the most depreciated currency. The depreciation of the weight is due to 3 factors:
en United States, The monthly employment report showed that during February 379,000 job positions were created, well above the 200 thousand expected by the market, showing an acceleration in the recovery of the labor market, driven by the relaxation in the measures of confinement and by advancement in the vaccination campaign. Monthly job creation is the highest since November 2020.
the unemployment decreased slightly to 6.2 percent from the 6.3 percent rate observed in January. However, if sub-employed people are taken into account the rate rises to 11.1 per cent.
Since the overnight exchange rate has reached levels above 21.25 pesos per dollar, in the face of a strengthening of the dollar after the president of the Fed, Jerome Powell, He acknowledged that inflationary pressures could be observed this year, so the market continues to speculate on the possibility of the Fed adopting a more astringent monetary stance if inflation rises more strongly than expected.
A greater perception of risk on Mexico, after in the week the Senate approved the reform in the Electricity Industry Act, Deteriorating the business environment in the country and creating conditions for a slow return on investment. In the foreign exchange market, the Mexican peso remains among the most depreciated currencies for the week.
Dollar in real time
(…)the euros is sold over the counter at a maximum of 25.81 pesos and is bought at 25.29 pthese. For its part, the pound sterling is offered at 29.65 pesos and is purchased at 29.35 pesos
The Bank of Mexico (Banxico) Recorded the previous session an exchange rate of 20.84 pesos per dollar.
With information from Reuters
MRA
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