At the beginning of operations the price of dollar Today, Monday, up to 20.38 pesos in banks. Meanwhile, the interbank exchange rate rose to 20.20 pesos per dollar, with a loss of 0.62 percent.
Citibanamex sells the dollar at 20.59 pesos, while Banorte does it at 20.40, BBVA Mexico at 20.38, Santander at 20.10 and Azteca Bank in 19.20 units.
The peso depreciated at the beginning of a week in which relevant economic information, such as local inflation data and the announcement of the monetary policy Bank of Mexico, while the market awaits news about a new tax support program in US
How is the exchange rate going?
Basic bank explained in a report that the peso started the session with a depreciation due to a moderate consolidation of the US dollar that advanced against most currencies, the Mexican peso being the second most depreciated after the South African line, which lost 0.71%, followed by the Hungarian forint which lost 0.51 percent and the Swedish krona by 0.50 percent.
“Into the United States, Janet Yellen He stressed the importance of approving robust fiscal incentives to stimulate economic recovery, especially the recovery of the labor market. The Secretary of the Treasury indicated that, with proper support, full employment could be returned in 2022. However, if the necessary incentives are not given, the labor market may need time to recover by 2025. ” , he explained.
Therefore, Yellen’s comments raise the likelihood that the Biden administration will promote an expansionary fiscal policy in the coming months, with capital markets starting to rise this week.
In the relevant news, the Ministry of Finance reported that from Friday the stimulus in the collection Special Tax on Production and Services (IEPS) from benzine. The stimulus is 2.79 percent per liter for gasoline below 91 octane, so consumers will now pay about 4.9719 pesos per liter, instead of 5.1148 pesos.
On the other hand, it is rumored in the media that today the Bank of Mexico, the Ministry of Finance and the Association of the Bank of Mexico will present a proposal to support migrants and their families to address the issue raised in the Bank of Mexico Law reform.
“It is a mechanism for Mexican families to exchange cash dollars nationally through the Banco del Bienestar. It is important to remember that the proposed reform of the Bank of Mexico Law generated a greater perception of the relative risk to the Mexican economy, as it undermines the autonomy of the Central Bank. In this sense, today’s proposal will be relevant, because it could reduce or eliminate the probability that Banxico’s autonomy will be violated “, he recalled.
Real time dollar
euro It is sold at the window with a maximum of 24.75 pesos and is bought at 24.24 pesos. In turn, pound It is offered at 28.20 pesos and is purchased at 27.61 pesos.
Bank of Mexico (Banxico) recorded an exchange rate of 20.13 pesos in the previous session per dollar.
With information from Reuters
MRA
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