When starting operations, the price is of dollar Today Tuesday it is up to 21.69 pesos in banks. Meanwhile, the interbank exchange rate is at 21.24 pesos per dollar, with a gain of 1.22 percent.
Citibanamex sells the dollar at 21.69 pesos per dollar while Banorte it does it in 21.75 pesos, BBVA Mexico at 9:52 pm, Santander at 21.23 and Azteca Bank in 21.10 units.
The peso appreciated after four consecutive declines, while the dollar pulled back from its three and a half month high on the stabilization of US Treasury yields, allowing for rises in risk currencies.
How’s the exchange rate going?
Basic sofa explained in a report that the appreciation of the peso is the result of a correction movement after recording depreciations of nearly 1 percent over four consecutive sessions. The same is true of the US dollar, whose weighted index shows a decline of 0.43 percent, the first in a week and the highest since February 9.
From a technical standpoint, the dollar-weighted index approaches the resistance characterized by its 200-day moving average, which increases the likelihood of downward corrections in the short term. For now, however, the upward trend in the US dollar observed since February 26th remains, so the risk of further upward movements in the exchange rate remains in subsequent sessions.
In the foreign exchange market, most currencies are gaining ground against the dollar, with the Turkish lira being the most valued at 1.38 percent, followed by the South African rand at 0.95 percent and the Mexican peso at 0.86 percent. During the session, along with the weakening of the dollar, there is increased demand for government bonds, with 10-year yields showing a significant decline of 5.7 basis points, namely 1.53 percent.
It should be remembered that speculation that the Fed could leave its flexible stance early in previous sessions led to rate hikes, which in turn strengthened the US dollar. It is important to note that the downward movement in bond market interest rates is also the result of a correction as no indicators or events have been released to trigger this movement.
The US Treasury will auction $ 58 billion in three-year notes today. On Wednesday, it will auction $ 38 billion in 10-year bonds and on Thursday $ 24 billion in 30-year bonds. Demand for these auctions will be critical to the market.
Oil, on the other hand, is kicking off the session with a profit, with the WTI trading at $ 65.28 a barrel, up 0.37 percent given the general weakening of the US dollar.
With regard to relevant information, the Organization for Economic Co-operation and Development (OECD) has updated its growth forecasts for 2021 and 2022. In Mexico, growth of 4.5 percent is expected this year, higher than the earlier estimate of 3.6 percent, while growth of 3 percent is expected for 2022.
With regard to the economic indicators in Mexico, the inflation figures for consumers and producers for the month of February have been published today.
Real time dollar
The euro It is sold at the window for up to 25.85 pesos and is bought for 25.27 pesos. For his part, pound sterling It is offered for 30.00 pesos and bought for 29.54 pesos.
The Bank of Mexico (Banxico) recorded an exchange rate of 21.41 pesos in the previous session per dollar.
With information from Reuters
MRA