At the beginning of operations the price of dollar Today, Monday, up to 20.46 pesos in banks. Meanwhile, the interbank exchange rate rose to 19.96 pesos per dollar, with a loss of 0.04 percent.
Citibanamex sells the dollar at 20.42 pesos, while Banorte does it at 20.25, BBVA Mexico at 20.21, Santander at 19.94 and Azteca Bank in 19.76 units.
The peso worked with little change from the previous close due to the falling dollar and in a session where less liquidity is expected due to a holiday that will keep the financial markets US.
How is the exchange rate going?
Basic bank He explained in a report that the peso begins the session with few changes compared to Friday’s close, while the foreign exchange market shows a weakening of the US dollar, the dollar-weighted index losing 0.11 percent, resuming its downward trend. The moderate appreciation of the peso is due to a combination of factors, including the following:
1. Optimism is observed in the global financial markets, starting with the Asian session. In Japan, quarterly economic growth of 3% was launched today in the fourth quarter, exceeding expectations of 2.4%.
This had a positive impact on the capital market, with the Nikkei 225 rising 1.91 percent. European capital markets followed the trend, observing generalized gains, the main indices advancing by an average of 0.98 percent. In the United States, financial markets (capital and bonds) will remain closed for President’s Day, so a small volume of foreign exchange market operations is anticipated.
2. Oil prices have risen in the commodity market. The WTI price starts with an advance of 1.90 percent, trading at $ 60.60 per barrel, reaching a maximum of $ 60.95, a level not seen since January 8, 2020. Oil prices rise due to the cold front that affected the state of Texas in the United States and which has slowed oil production in the region, which normally accounts for about 50 percent of American crude oil.
Oil production in the region fell by about 1 million barrels per day compared to the nearly 6 million barrels normally produced per day.
Finally, covid-19 cases continue to slow, with 84,000 infections in the United States on Saturday, below the average of 97,000 in the last seven days. The British authorities have announced that they have already met their first vaccination target for all people over the age of 70, as well as health workers. This also contributes to the optimism of the financial markets.
As for the relevant news, the vaccination plan for older adults in rural areas began in Mexico today. The Ministry of Health pointed out that currently they have only 870 thousand doses, so the application of vaccines in urban areas would have no impact.
Real time dollar
euro It is sold at the window for a maximum of 24.55 pesos and is bought at 24.65 pesos. In turn, the pound sterling is offered at 28.00 pesos and is purchased at 27.05 pesos.
Bank of Mexico (Banxico) recorded in the previous session an exchange rate of 19.96 pesos per dollar.
With information from Reuters
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