The Mexican peso started the day strong on Friday, February 9, with a 0.24% appreciation compared to the previous day. According to a report from Bloomberg, the peso’s gains were cut after a drop in industrial production in December, signaling an economy under pressure from high interest rates.
The exchange rate for the USD/MXN pair was at 17.10 pesos per dollar in the wholesale market, with volatility and a bearish bias observed in the overnight session. Experts from financial group Monex noted that the currency had cut its gains from the week ahead of the Banxico meeting, which reinforced a more restrictive view in case inflation figures deviate from the 3% objective.
The dollar to peso exchange rates at the main banks in Mexico are as follows:
– Banco Azteca buys at 16.10 and sells at 17.55
– BBVA Bancomer buys at 16.28 and sells at 17.42
– Banorte buys at 16.00 and sells at 17.40
– Citibanamex buys at 16.64 and sells at 17.59
– Scotiabank buys at 16.81 and sells at 17.46
Please note that the dollar rate is updated throughout the day.
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