Mexico City /
At the beginning of operations the price of dollar today Wednesday is up to 20.49 pesos in banks. Meanwhile, the interbank exchange rate amounts to 20.06 pesos per dollar, with a gain of 0.04 percent.
Citibanamex sells the dollar at 20.49 pesos, while Banorte does it at 20.35, BBVA Mexico at 20.32, Santander on 20.09 and Azteca Bank in 19.91 units. (Data from banking portals)
weight It has been operating steadily since the US inflation report pushed the dollar to widen losses, while the market waits to hear the monetary policy decision of the US. Bank of Mexico and a speech by the president Federal Reserve.
How is the exchange rate going?
Basic bank He explained in a report that in the foreign exchange market the performance of currencies against the dollar is mixed, and the dollar-weighted index shows no changes compared to yesterday’s close. It is important to note that both emerging and advanced currencies and refugee currencies are losing ground, so there is no model that indicates a higher perception of risk.
“The most depreciated currencies are the Brazilian real with 0.79 percent, the New Zealand dollar with 0.43 percent, the Czech koruna with 0.40 percent, the Chinese yuan with 0.25 percent and the Japanese yen with 0.19 percent. percent, “he said.
The stability of the exchange rate and the low variability of the weighted dollar index may be due to the fact that the market is paying attention to a conference of the President of the Federal Reserve, Jerome Powell in front of the Economic Club of New York, today where he will talk about the labor market.
“A message that confirms once again that monetary policy will remain largely flexible, despite the fiscal incentives proposed by the administration Joe Biden, could cause a further weakening of the dollar against its main crosses. However, this does not mean that the Mexican peso will continue to appreciate in the short term, as Mexico faces more domestic risks, which increases the perception of relative risk in the market, “he said.
Analysts predict among the risks the low availability of covid-19 vaccines, the absence of a countercyclical fiscal policy that will allow a faster economic recovery and the promotion of reforms that have the capacity to inhibit investment and potential economic growth, such as the electricity reform to be discussed. in the next days.
During the session, the exchange rate is expected to trade between 20.06 and 20.24 pesos per dollar.
Dollar in real time
euro It is sold at the window at a maximum of 24.80 pesos and is bought at 24.31 pesos. In turn, pound It is offered at 28.05 pesos and bought at 27.75 pesos.
Bank of Mexico (Banxico) recorded in the previous session an exchange rate of 20.09 pesos per dollar.
With information from Reuters
m R
(…)
(…)
(…)