Title: Mexican Peso Gains Strength Against Dollar, Exchange Rate Set at $17.1012
Mexico – The Mexican peso began the week with renewed vigor after the US dollar dominated over the weekend. The Aztec currency has had a promising start on Monday, July 10th, but its performance throughout the rest of the week remains to be seen.
The National Bank of Mexico has fixed today’s exchange rate at $17.1012, lower than the previous rate of $17.2825. The value of the Mexican peso against other foreign currencies will be calculated based on the prevailing exchange rate of the US dollar in international markets on the day of payment. These rates will be disclosed upon request by the country’s credit institutions.
Comparing with historical data from the Official Journal of the Federation, it is evident that the exchange rate in 2023 stands significantly lower at $17.1012 compared to $22.6945 in 2020 and $19.0043 in 2019.
Financial institutions and exchange houses have determined the average exchange rate for the day as $17.1358, with a purchase rate of $16.6959 and a selling rate of $17.5757. Tomorrow’s expected average rate stands at 17.11045, with a buying rate of 17.1096 and a selling rate of 17.1113 pesos.
According to the analysis by Eldolar.info, the US dollar has experienced a loss of -0.12% in the beginning of this week. However, it has gained 0.03% in the month and the quarter, though it remains depreciated by -11.63% since the start of the year. During the presidency of Joe Biden in the United States, the US dollar has fallen by -12.65%, while under Mexican President Andrés Manuel López Obrador, it has dropped by -14.71%.
For those looking to exchange their dollars, the Bank of Mexico offers the best rates today, with a buying rate of 17.1135 and a selling rate of 17.12 pesos.
When it comes to buying or selling dollars, it is advisable to compare prices and opt for the most convenient option available. Multiple banking institutions and financial companies offer varying rates, and customers should choose accordingly.
The exchange rate of the US dollar is one of the most closely monitored financial indicators globally, owing to the level of globalization prevalent today and the vast number of international transactions undertaken by individuals, companies, and governments.
In light of the current exchange rate and the forecast for financial entities, individuals planning to travel or make purchases with US currency should stay informed and adequately prepared.
Caption for attached image: Dollar price list in banks
Caption for second attached image: List of prices for the last week and forecast for tomorrow
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*Disclaimer: The published exchange rates are subject to change based on market fluctuations.