When starting operations, the price is of dollar Wednesday it rose to 21.06 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.64 pesos per dollar, with a gain of 0.07 percent.
Citibanamex sells the dollar at 21.06 pesos per dollar, while Banorte it does it in 20.90 pesos, BBVA Mexico at 20.81, Santander at 20.67 and Azteca Bank in 20.60 units.
The peso moved slightly as a result of investor caution awaiting the US Federal Reserve’s (Fed) monetary policy announcement scheduled for tomorrow.
How’s the exchange rate going?
Basic sofa explained in a report that the peso is the 10th most valued currency in the session. The most valued currencies are the Turkish lira at 0.67 percent, the South Korean won at 0.59 percent and the Brazilian real at 0.51 percent.
In the forex market, the dollar-weighted index remains stable, rising only 0.01 percent since last Friday, which is consistent with what is happening in the bond market as 10-year government bond yields show little change and fall 2 basis points from the previous one . Friday.
The markets are cautious as they await the monetary policy announcement Federal Reserve scheduled for tomorrow. Today the monetary policy meeting begins and it is expected that interest rates and bond buying programs will remain unchanged.
However, it will be relevant to the expectations of inflation, economic growth, unemployment and the expected path through the Open Market Operations Committee for the interest rate. Adjusting expectations to a more favorable scenario could have an effect in favor of the US dollar in the short term.
On the other hand, the administration of Joe Biden plans the largest tax increase since 1993 and, according to people familiar with the issue, some proposals include an increase in corporate tax from 21 to 28 percent, as well as an increase in the income tax of people earning more than $ 400,000.
The measure would imply a more restrictive tax policy and increase the likelihood of capital market gains U.S when details are released.
In Mexico Little relevant economic information is expected to be released during the week, with an emphasis on the Timely indicator of economic activity for February on Thursday, as well as the aggregated supply and demand statistics for the fourth quarter of 2020, on Friday 19.
Real time dollar
The euro It is sold at the window for up to 24.96 pesos and for 24.48 pesos. The British pound for its part is on offer for 29.00 pesos and is bought for 28.58 pesos.
The Bank of Mexico (Banxico) recorded an exchange rate of 20.76 pesos in the previous session per dollar.
With information from Reuters
MRA