Mexico City
When starting operations, the price is of dollar today Thursday it is up to 21.25 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.86 pesos per dollar, with a gain of 0.33 percent.
Citibanamex sells the dollar at 21.25 pesos per dollar while Banorte does it in 21.10, BBVA Mexico at 21.08, Santander at 20.84 and Azteca Bank in 20.70 units.
The peso was valued in a market awaiting a speech from US Federal Reserve President Jerome Powell, where he is likely to reiterate that the monetary stimulus will persist for an extended period of time.
How’s the exchange rate going?
Basic sofa He explained in a report that the peso is the most valued currency in the broad basket of major crosses, the result of a correction to yesterday’s losses after the exchange rate respected the 21.00 peso-dollar resistance. The appreciation of the peso is also supported by a moderate downward correction in government bond yields. The 10-year bond yield falls by 2.2 basis points to almost 1.45 percent.
Market participants await a conference by Jerome Powell on the economic situation, where he will likely reiterate the continuity of monetary stimulus for an extended period of time.
“It is not clear what the response of the financial markets will be to their comments, as their comments in favor of a flexible monetary policy have had a very short-term effect on bond market behavior in recent weeks and it appears that market participants are paying attention to the evolution of economic indicators pointing to an accelerated economic recovery, ”he said.
An additional factor that could renew upward pressure on government bond yields is the likely approval of fiscal stimulus measures in the coming days in the United States Senate. It should be added that the United States Capitol received warnings of a possible attack by extremists on March 4. Therefore, the vote on the new stimulus package will likely be postponed until the weekend.
In addition, today is key to 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 between 1 and 1.5 million barrels per day from April. The oil price response will depend on the expected oil supply growth after the meeting.
Real time dollar
The euro It sells at the window for up to 25.55 pesos and was bought at 25.03. pesos. For his part, pound sterling It is offered for 29.40 pesos and bought for 29.09 pesos.
The Bank of Mexico (Banxico) recorded an exchange rate of 20.89 pesos in the previous session per dollar.
With information from Reuters
MRA