Mexico City
At the start of the activities, the price of the dollar was a maximum of 21.15 pesos at banks on Wednesday. Meanwhile, the interbank exchange rate stands at 20.70 pesos per dollar, with a loss of 0.41 percent.
Citibanamex sells the dollar at 21.15 pesos per dollar while BBVA Mexico does it at 20.96, Banorte in 20.85 pesos, Azteca Bank at 20.70 and Santander in 20.61 units.
The peso depreciated in the face of a global dollar advance, in a market focused on the later release of the monetary policy announcement of US Federal Reserve (Fed)
How’s the exchange rate going?
Basic sofa explained in a report that the peso begins the session with a depreciation due to the overall strengthening of the US dollar, whose weighted index is up 0.24 percent, after changing little during the first two sessions of the week.
“The strengthening of the dollar is in turn the result of an upward movement in government bond interest rates, with 10-year yields reaching a maximum of 1.6 percent, a level not seen since February 6, 2020.
Before the announcement of the monetary policy Federal Reserve, the response of the financial markets, interest rates and the bond buying program are expected to remain unchanged.
However, an upward revision is expected in inflation expectations, economic growth and the projection of future interest rate movements. It should be recalled that new fiscal stimuli have been approved in the last three months and that the vaccination process has begun at a global level, which has advanced rapidly, especially in advanced economies.
The market will also pay attention to the comments of the chairman of the Fed, Jerome Powell, which will hold its press conference at 12:30 pm.
Real time dollar
The euro It is sold at the window for up to 24.80 pesos and is bought for 24.66 pesos. For his part, pound sterling It is offered for 28.90 pesos and is bought for 28.72 pesos.
The Bank of Mexico (Banxico) recorded an exchange rate of 20.57 pesos in the previous session in front of dollar
With information from Reuters
MRA