Dollar falls against peso: closing prices today, March 12

in the last session U.S. Dollar Completion was negotiated 16.79 pesosWhich represents a change of 0.02% compared to the previous day’s figure, when it stood at 16.79 pesos.

If we look at the figures of the last seven days U.S. Dollar shows a decrease in 0.59%So that it is still decreasing since a year now 7.94 percent,

If we compare the price with previous dates, it has declined for two consecutive sessions. Regarding the volatility of the last few days, it was 3.03%, which is clearly lower than the yearly volatility figure (10.59%), presenting itself as a recent value with lower variation than usual.

According to Bank of Mexico (Banxico) forecasts for 2024, Mexico’s economy has recorded a series of contradictions that will continue.

Regarding the exchange rate, the central bank expects the dollar to sell for between 17.68 pesos and 18.67 pesos per unit throughout the year. A conservative forecast assumes that the national currency destroyed 2023 forecasts, breaking the floor of 17 pesos per unit, a level not seen for eight years.

For its part, inflation is expected to continue its downward trend, as it reaches its historical maximum of 8.7% at the end of 2022. Bancsico forecasts inflation to be 4.02% in 2024, however, it is not expected to reach the norm of three any time soon. percentage points.

However, this is in contrast to the above gross domestic product (GDP) growth forecasts, as the central bank expects it to be 2.29% in 2024.

The Mexican peso is the legal tender of Mexico and the first currency in the world to use the $ sign, which was later adopted by the United States for the dollar.

The currency is the fifteenth most traded currency in the world, as well as the most traded currency in Latin America and third on the continent after the US and Canadian dollars.

Currently the abbreviation MXN is used to talk about the Mexican peso, but before 1993 the abbreviation MXP was used.

Coins commonly used in Mexico are semicircular and feature the national coat of arms on the reverse. One Mexican peso is equal to 100 cents. There are coins of 1, 5, 10 and 20 pesos; While the bills are of 20, 50, 100, 200, 500 and 1,000 pesos.