Today, January 31, the dollar rose against the peso at closing prices

He U.S. Dollar Completion was negotiated Average of 17.19 Mexican pesosWhich means an increase of 0.27% compared to the previous day’s price, when it ended with 17.14 pesos.

Regarding last week, U.S. Dollar notes a decrease in 0.11%This is the reason why it is still decreasing since last one year 4.8 percent,

If we compare the price with previous days, the meaning of the previous result changed, when it ended with a decrease of 0.32%, showing its inability to establish a stable trend recently. Volatility over the past week was much lower than last year, so its price is seeing less movement than expected recently.

According to forecasts from the Bank of Mexico, the Mexican economy has recorded a series of contradictions, which will continue (Banxico) for this 2024.

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, a level not seen for eight years.

For its part, it is expected that Inflation continues to declineSince reaching its historical maximum of 8.7% in late 2022. Bancsico forecasts inflation of 4.02% in 2024, however, the three percentage point ideal is not expected to be reached anytime soon.

However, contrary to the above economic growth forecastSince Banxico expects it to be 2.29% in 2024.

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

This currency is the fifteenth most traded currency in the world, as well Most trade takes place in Latin America And third on a continent-wide scale, behind only 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.