Mexico City /
At the beginning of operations the price of dollar today Monday was up to 21.08 pesos in banks. Meanwhile, the interbank exchange rate rose to 20.69 pesos per dollar, with a loss of 0.99 percent.
Citibanamex sells the dollar at 21.08 pesos, while Banorte makes 20.90 pesos, BBVA Mexico does it at 20.87, Santander at 20.51 and Azteca Bank at 20.50 units.
The peso depreciated as investors opted for safer assets following the sudden decision of the Turkey to replace the head of its central bank, a decision that has raised concerns in other financial markets. 
How is the exchange rate going?
Basic bank explained in a report that the foreign exchange market shows a mixed performance against the dollar, as market participants expect new signals about the future of US economic policy.
“Today, Fed Chairman Jerome Powell will participate in a group of the Bank for International Settlements, where he could address again the issue of the path of monetary policy, while on Tuesday and Wednesday will be presented, as well as the Secretary of the Treasury , Janet Yellen, before the committees of the House of Representatives and the Senate, “he said.
Other relevant events will be bond auctions United States Treasury next Wednesday, the day $ 61 billion in 5-year bonds will be auctioned, while on Thursday, $ 62 billion in 7-year treasury bonds will be auctioned, followed by a special attention.
“A significant part of the upward pressure on the dollar came after the last 7-year treasury bond auction on February 25, when demand for the instrument fell. In the last month, the demand for debt instruments has been reduced, in an effort by investors to reduce their exposure to future monetary policy adjustments to a less flexible position, ”he said.
Until this session, the exchange rate traded between a minimum of 20.6085 and a maximum of 20.8813 pesos per dollar. The depreciation is the direct result of a higher perception of risk to Turkey, after President Recep Tayyip Erdogan fired central bank governor Naci Agbal, who has been in charge of the bank for four months, adjusting the monetary policy rate to 875 points. basic at 19%.
“Uncertainty is expected to continue in Turkish markets as the Istanbul Stock Exchange loses 9.52 percent, while in the bond market, the rate of 10-year Turkish bonds issued in dollars increases by 150 basis points to 7 , 46 percent.
Real time dollar
(…) euro It is sold at the window with a maximum of 25.06 pesos and is bought with 24.57 pesos. In turn, pound It is offered at 28.95 pesos and is purchased at 28.51 pesos.
Bank of Mexico (Banxico) registered in the previous session an exchange rate of 20.48 pesos per dollar.
With information from Reuters
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