When starting operations, the price is of dollar today Friday it is up to 21.37 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.87 pesos per dollar, with a loss of 0.13 percent.
Citibanamex sells the dollar at 21.37 pesos per dollar while BBVA Mexico does it at 9:23 pm, Santander at 20.92 and Azteca Bank in 20.71 units.
The weight traded with a slight loss, in line with most emerging market currencies, while foreign exchange investors judged the sharp rise in US bond yields. treasure and other fixed rates.
How’s the exchange rate going?
Basic sofa explained in a report that the peso begins the session with a depreciation observing lateral behavior during the night at around 20.90 pesos per dollar. In recent days, especially yesterday, the trading range has been broad, due to upward pressure on interest rates in the US bond market. U.S.
“This morning, bonds appear to have stabilized, with 10-year yields down 5.8 basis points to 1.46 percent,” he said.
Low demand in the primary bond market, which has been reflected in the secondary market since late January, was the result of reduced risk exposure to possible future changes in the Fed’s monetary policy.
While Federal Reserve officials have reiterated that they will keep interest rates unchanged and the liquidity injections continue, the solid economic indicators for the U.S. economy are evoking a response similar to the 2013 ‘Taper Tantrum’, when interest rates responded to the increase following the announcement of a gradual normalization of monetary policy after the great recession of 2008-2009.
It should be remembered that there is an inverse relationship between the interest rate and the price of a bond, so that increases in interest rates cause short-term loss of value of the portfolios.
In the foreign exchange market, the US dollar continues to show strength, with the weighted index advancing 0.30 percent after gaining 0.64 percent yesterday. Most currencies in the wide basket of large crosses lost ground this morning, with the most depreciating the Indian rupee at 1.41 percent, the South Korean won at 1.37 percent, the Australian dollar at 1.28 percent and the Turkish lira. by 1.10 percent.
It will be recalled that the strengthening of the US dollar during yesterday’s session was driven by a surge in US Treasury interest rates, mainly around noon, following an auction of US $ 62 billion in US bonds. 7-year Treasury, demanding 2.04 times what was posted, the lowest since 2009, while the difference between the pre-auction rate and the highest rate in the auction was 4.2 basis points, not yet had previously been seen for similar placements.
Dollar in real time
The euro It is sold at the window for up to 25.88 pesos and is bought for 25.38 pesos pesos. For his part, pound sterling It is offered at 29.22 pesos and acquired at 29.21 pesos.
The Bank of Mexico (Banxico) recorded an exchange rate of 20.85 pesos in the previous session per dollar.
With information from Reuters
MRA