The price of the dollar on March 5

At the beginning of operations the price of dollar today Friday is up to 21.69 pesos in banks. Meanwhile, the interbank exchange rate is at 21.37 pesos per dollar, with a gain of 1.23 percent.

Citibanamex sells the dollar at 21.69 pesos per dollar, while BBVA Mexico does it at 21.52, Banorte at 9.35 pm Santander at 21.23 and Azteca Bank in 21.05 units.

The peso was appreciated in a market awaiting a speech by US Federal Reserve Chairman Jerome Powell, where he is likely to reiterate that the monetary stimulus will be maintained for an extended period of time.

How is the exchange rate going?

Basic bank explained in a report that the peso starts the session with the exchange rate reaching a low of 21.08 and a high of 21.41 pesos per dollar, a level not seen since November 4, 2020. For a few moments, the Mexican peso was the most popular currency. much depreciated. Depreciation of the peso is due to 3 factors:

In the US, the monthly employment report showed that 379 thousand jobs were created in February, well above the 200 thousand expected by the market, showing an acceleration of the recovery of the labor market, caused by the relaxation of containment measures and progress in the vaccination campaign. The monthly job creation is the highest since November 2020.

unemployment rate fell slightly to 6.2 percent from the 6.3 percent rate seen in January. However, if underemployed people are taken into account, the rate increases to 11.1 percent.

Overnight, the exchange rate reached levels above 21.25 pesos per dollar, before a consolidation of the dollar after the president Fed up, Jerome Powell, acknowledged that inflationary pressures could be seen this year, so the market continues to speculate on the possibility of the Fed adopting a more astringent monetary stance if inflation rises more strongly than expected.

A higher perception of risk about Mexico after the Senate approved the reform at Electricity industry law, the deterioration of the business environment in the country and the creation of conditions for a slow recovery of investments. On the foreign exchange market, the Mexican peso remains among the most depreciated currencies of the week.

Real time dollar

(…) euro It is sold at the window with a maximum of 25.81 pesos and is bought at 25.29 pesosthese. In turn, pound It is offered at 29.65 pesos and is purchased at 29.35 pesos

Bank of Mexico (Banxico) registered in the previous session an exchange rate of 20.84 pesos per dollar.

With information from Reuters

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