At the beginning of operations the price of dollar today Thursday is up to 20.67 pesos in banks. While, Exchange rate interchange amounts to 20.31 pesos per dollar, with a loss of 0.52 percent.
BBVA Mexico sell the dollar at 20.67, Banorte at 20.60, Santander at 20.45 and Azteca Bank in 20.11 units.
weight depreciated despite the global decline in the dollar, due to investors’ nervousness about the effects of bad weather, especially in US, on the energy sector.
How is the exchange rate going?
Basic bank explained in a report that while the peso is losing ground in the foreign exchange market, most currencies are gaining ground, with the Chilean peso rising by 0.75 percent and the South African by 0.74 percent. the British pound by 0.60 percent and the Norwegian krone by 0.47 percent, being largely the foreign currency of the commodity-producing countries.
In the commodity market, increases in energy prices continue to be observed, with WTI rising 0.67 percent to $ 61.55 per barrel, reaching an unprecedented January 8, 2020 high of $ 62.26. Gasoline, meanwhile, rose 0.59 percent and natural gas by 1.12 percent as a result of the Texas energy crisis that forced a 40 percent suspension of oil production nationwide.
It should be noted that energy products are not the only commodities whose prices have risen. Industrial metals also started the earnings session, with rising demand from China, which is returning from holiday after the Lunar New Year holidays. Given this, the price of copper reached an unseen maximum on February 28, 2012 of $ 8,652 per ton, while the price of aluminum reached an unseen maximum on October 5, 2018, of $ 2 thousand 167 per ton.
This morning, the dollar’s weighted index shows a decline of 0.24 percent, after advancing 0.64 percent in the previous two sessions. It is important to note that although some currencies could gain in the short term due to rising commodity prices, the effect of the energy market shock on the real economy is negative, with direct repercussions on the economy of the southern United States and mainly Mexico. Yesterday afternoon, Texas Gov. Greg Abbott reported that he would ban the export of natural gas until Feb. 21 to ensure energy supply to his territory as millions of users continue without services.
Although the restoration of the electricity source has been announced nationwide, the government has asked companies to reduce gas consumption due to the shortage in Mexico. According to the petition, General Motors has announced the suspension of operations at the Guanajuato plant. Likewise, Volkswagen, Audi and Mazda have reported that they will stop production of some models at their plants in Mexico. The car companies have indicated that they will resume their activities when the gas supply is optimal, which could happen by the weekend. On the other hand, some supermarkets will reduce the production of bread and tortillas to reduce gas consumption.
Real time dollar
(…) euro It is sold at the window with a maximum of 25.12 pesos and is bought with 24.68 pesos.you are. In turn, pound It is offered at 28.80 pesos and bought at 28.50 pesos.
Bank of Mexico (Banxico) registered in the previous session an exchange rate of 20.22 pesos per dollar.
With information from Reuters
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