At the beginning of operations the price of dollar today Thursday is up to 20.38 pesos in banks. Meanwhile, the interbank exchange rate rises to 19.92 pesos per dollar, with a gain of 0.48 percent.
Citibanamex sells the dollar at 20.38 pesos, while BBVA Mexico does it at 20.21, Banorte at 20.15, Santander in 20.04 and Azteca Bank in 19.76 units.
The peso appreciated below the $ 20 barrier hand in hand with other emerging currencies as the market waited for the monetary policy decision of the Bank of Mexico.
How is the exchange rate going?
Basic bank explained in a report that it isthe exchange rate accumulated three consecutive sessions down. In the last five sessions (taking into account last Friday), the peso has accumulated an appreciation of 2.18 percent or 44.5 cents.
“There is a weak dollar in the foreign exchange market, losing 0.13 percent and accumulating five consecutive sessions down, something that had not happened since mid-November 2020,” he said.
The above explained that it is due to weakness dollar continues to be waiting for widely flexible monetary and fiscal policies in the United States. As expected, the dollar continued to weaken after the president Federal Reserve, Jerome Powellstressed the importance of providing a greater fiscal stimulus, in particular due to the slow recovery that has been observed in the labor market.
The Fed chairman reiterated that full employment is still a long way off, so the central bank will continue to use all its tools to support the economic recovery.
“In the session, the exchange rate performance could be influenced by the monetary policy decision of the Banco de México scheduled for today, where the board will likely reduce the interest rate again by 25 basis points to 4%, “he added.
However, a statement of caution cannot be ruled out, mainly due to evidence of inflationary pressures in January, given the monthly increases in petrol and food prices.
Among the most popular currencies this morning are those in emerging economies or commodity-producing countries. The South African currency is the most appreciated currency with 0.88 percent, followed by the Brazilian real with 0.84 percent, the Chilean peso with 0.67 percent, the Mexican peso, the Turkish lira with 0.44 percent and the Russian ruble. by 0.43 percent.
This behavior on the foreign exchange market is not associated with gains on the commodity market, where a mixed behavior is observed, with losses in energy prices.
Real time dollar
(…) euro It is sold at the window for a maximum of 24.70 pesos and is bought for 24.19 pesos. In turn, pound It is offered at 27.95 pesos and is purchased at 27.00 pesos.
Bank of Mexico (Banxico) recorded an exchange rate of 20.05 pesos in the previous session per dollar.
With information from Reuters
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