The value of the dollar improved against the peso at this January 22 expiration

Peso-dollar parity is historically linked. (EFE/Juan Ignacio Roncoroni)

He U.S. Dollar Quoted at closing 17.17 pesosWhich implies an increase of 0.45% compared to the previous day’s price of 17.09 pesos.

Regarding last week’s profitability, U.S. Dollar notes a decrease in 0.16%So that there is still a decrease from a year ago 4.57 percent,

Analyzing this data with previous dates, it turned out two consecutive days of positive figures. Regarding the volatility of recent dates, it presented a higher behavior than the volatility reflected in the last year’s data, showing itself to be an asset with more swings than usual.

mexican economy In recent years there have been a series of contradictions. Despite no growth even before the pandemic, it has been improving recently.

for its part, inflation started increasing From the beginning of 2021, it reached its historical maximum of 8.7% in September 2022. Since then it has been declining. The above is mainly due to the monetary policy of the Bank of Mexico (Banxico), which has opted to increase the reference rate.

Although Banxico itself assures that general inflation is already at a low level in accordance with its historical behavior, this does not mean that deflationary process “This should be taken with a grain of salt, as these levels are still above objective.”

The central bank’s Governing Board “estimates that the inflation outlook will be complex and uncertain” and “with upside risks”, so – and to maintain the 3% target – “it will be necessary to keep the reference rate at its level. “On for extended periods.”

For its part, the peso has experienced an improving outlook. Since mid-2022, the Mexican currency has strengthened against the dollar to such an extent that it has been nicknamed “Supervet”,

the dollar reached its lowest point in July 2023, when it was quoted at just over 16 pesos per unit, a figure not seen since 2015. A quote that was repeated at the end of the year.

In addition, the Mexican currency fell short of Banco’s forecasts. At the beginning of the year, he assured that the dollar would close 2023 on average above 20 pesos per unit and, although as the months progressed he adjusted his forecasts, the truth is that the exchange rate remained even lower.

Currently, Banxico expects the dollar to trade between 17.68 pesos to 18.67 pesos per unit during 2024.

The Mexican peso is the fifteenth most traded currency in the world. (Banxico)

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 using MXN short form 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.

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