Peso has its best close against the dollar in the last 8 years

He U.S. Dollar Completion was negotiated 16.56 pesosWhich represents a change of 0.56% compared to the previous session’s value, when it closed with 16.65 pesos.

Regarding last week’s profitability, U.S. Dollar There has been a decrease in 0.75%So that is still decreasing from a year ago 8.09 percent,

Comparing this data to previous days, they added together three consecutive dates of negative numbers. The volatility figure is clearly lower than the figure obtained for the last year (10.59%), so its price has been seeing less changes than usual recently.

According to the Bank of Mexico’s (Banxico) forecast for 2024, Mexico’s economy has faced several contradictions that will continue.

Regarding the exchange rate, the central bank expects the dollar to trade 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, which has not been 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. Banxico forecasts inflation to be 4.02% in 2024, however, this is not expected to be reached. Three percentage point norm soon.

However, this contrasts with the above gross domestic product (GDP) growth forecasts, as Bancsico 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.