Title: Mexican Peso Loses Ground as Dollar Strengthens
Mexico. – In a setback for the Mexican peso, the dollar has gained strength, erasing the gains made by the Aztec currency in the past 24 hours.
The National Bank of Mexico has set the exchange rate for the day at $17.2825 M.N., higher than the previous day’s rate of $17.0040 M.N. The value of the Mexican peso against other foreign currencies will be determined by the price of the latter against the US dollar in international markets on the day of the transaction, with credit institutions providing the necessary information upon request.
Comparing the exchange rates from previous years, it is evident that the exchange rate is far lower in 2023, with the Bank of Mexico setting it at $20.7228 MN in 2022 and $19.9658 MN in 2021.
Financial institutions and exchange houses have established an average exchange rate of $17.2125 for the day. The dollar can be purchased for $16.7699, while the selling rate stands at 17.655 pesos. Tomorrow, the average exchange rate is expected to be 17.2704, with a selling rate of 17.2711 and a buying rate of 17.2697 pesos.
According to Eldolar.info, the US dollar has gained 0.47% this week, as well as in the month and the quarter with a gain of 0.48%. However, the year-to-date depreciation of the dollar stands at -11.23%. Under President Joe Biden, the dollar has fallen by -12.26%, while during President Andrés Manuel López Obrador’s administration, it has fallen by -14.33%.
If you are looking to exchange dollars for traveling, investments, or other purposes, the Bank of Mexico offers the best rates at 17.2105 pesos for buying and 17.216 pesos for selling.
For those buying or selling dollars, it is recommended to compare rates at different banks and financial institutions to find the most favorable deal.
The dollar’s exchange rate is a widely consulted financial indicator worldwide due to globalization and the extensive international trade activities between individuals, companies, and governments.
Stay updated with the exchange rate trends this month and future projections from financial entities, especially if you are planning to travel or make purchases using US currency.
Image Caption: Dollar price list in banks
Image Caption: Last week’s price list and tomorrow’s forecast
Be sure to visit the special Economy section of Línea Directa for more information on the subject.
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