Mexico City /
At the beginning of operations the price of dollar today Thursday is up to 21.25 pesos in banks. Meanwhile, the interbank exchange rate amounts to 20.86 pesos per dollar, with a gain of 0.33%.
Citibanamex sells the dollar at 21.25 pesos per dollar, while Banorte does it on 21.10, BBVA Mexico on 21.08, Santander at 20.84 and Azteca Bank in 20.70 units.
The peso was appreciated in a market pending a speech by US Federal Reserve Chairman Jerome Powell, where he is likely to reiterate that the monetary stimulus will continue for an extended period of time.
How is the exchange rate going?
Basic bank He explained in a report that the peso is the most popular currency in the main basket of major crosses, the result of a correction in yesterday’s losses, after the exchange rate met the resistance of 21.00 pesos per dollar. The appreciation of the peso is also supported by a moderate downward correction in interest rates at the Treasury. The 10-year bond rate decreased by 2.2 basis points and approached 1.45 percent.
Market participants are waiting for a conference by Jerome Powell on the economic situation, where he is likely to reiterate the continuity of monetary incentives for an extended period of time.
“It is not clear how the financial markets will react to their comments, as in recent weeks their comments in favor of maintaining a flexible monetary position have a very short-term effect on bond market behavior and market participants appear to be watching the evolution of indicators. which indicates an accelerated economic recovery, “he said.
An additional factor that could renew upward pressure on Treasury bond rates is the likely approval in the next few days of the fiscal stimulus in the United States Senate. It should be added that the United States Chapter has received warnings about a possible attack by extremists on March 4. Therefore, the vote on the new stimulus package is likely to be postponed until the weekend.
In addition, it is essential today for the immediate future of oil prices, as the meeting between OPEC and its allies (OPEC +) will take place where oil production is expected to increase by between 1 and 1.5 million barrels per day from April. . The reaction of the oil price will depend on the expected increase in oil supply after the meeting.
Real time dollar
(…) euro It is sold at the window for a maximum of 25.55 pesos and is purchased at 25.03. pesos. In turn, pound It is offered at 29.40 pesos and is purchased at 29.09 pesos.
Bank of Mexico (Banxico) registered in the previous session an exchange rate of 20.89 pesos per dollar.
With information from Reuters
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