At the beginning of operations the price of dollar today Wednesday was up to 21.06 pesos in banks. Meanwhile, the interbank exchange rate amounts to 20.64 pesos per dollar, with a gain of 0.07 percent.
Citibanamex sells the dollar at 21.06 pesos per dollar, while Banorte does it in 20.90 pesos, BBVA Mexico at 20.81, Santander at 20.67 and Azteca Bank in 20.60 units.
The peso showed slight moves due to investor caution awaiting the announcement of the US Federal Reserve’s (Fed) monetary policy announcement scheduled for tomorrow.
How is the exchange rate going?
Basic bank explained in a report that the peso is the 10th most popular currency in the session. The most appreciated currencies are the Turkish lira by 0.67 percent, the South Korean won by 0.59 percent and the Brazilian real by 0.51 percent.
In the foreign exchange market, the dollar-weighted index remains stable, advancing only 0.01 percent since last Friday, which is in line with what is happening in the bond market, as the 10-year Treasury bond rate shows little change and back by 2 basis points from last Friday.
Markets are cautious as they await the announcement of monetary policy Federal Reserve scheduled for tomorrow. The monetary policy meeting begins today and the interest rate and bond purchase program are expected to remain unchanged.
However, it will be relevant to update expectations on inflation, growth, unemployment and the path expected by Open Market Operations Committee for the interest rate. An adjustment of expectations to a more favorable scenario could have an effect in favor of the US dollar in the short term.
On the other hand, administration Joe Biden plans the largest tax increase since 1993 and, according to people familiar with the matter, some proposals include raising the income tax from 21 to 28 percent, as well as raising the income tax of people earning more than $ 400,000. dollars.
The measure would imply a more restrictive fiscal policy and increase the probability of winning on the Romanian capital markets US as the details are published.
In the Mexico Little relevant economic information is expected to be published during the week, highlighting Timely indicator of economic activity for February Thursday, as well as aggregate demand and supply statistics for the fourth quarter of 2020, Friday 19.
Real time dollar
(…) euro It is sold at the window with a maximum of 24.96 pesos and is bought with 24.48 pesos. In turn, the pound sterling is offered at 29.00 pesos and is purchased at 28.58 pesos.
Bank of Mexico (Banxico) registered in the previous session an exchange rate of 20.76 pesos per dollar.
With information from Reuters
m R
(…)
(…)
(…)