Opening value of the dollar in this October 9 from USD to MXN

The peso-dollar parity has been historically linked. (Infobae)

After the stock market opening US dollar is listed today at 19.40 Mexican pesos on averageso that it represented a change of 0.25% when compared to the figure from the previous session, when it marked 19.35 pesos.

Taking into account the last seven days, the US dollar marks a rise of 0,17%% and for a year it still maintains an increase in 5,83%.

With respect to past dates, it accumulates three consecutive sessions of positive numbers. The volatility referring to the last week presents a balance that is manifestly lower than the volatility shown in the figures for the last year, so its price is presenting less alterations than normal in recent dates.

In the last year the Mexican currency has gained ground against the US dollar. (Infobae)

’s economy has suffered a series of contrasts, which will continue, according to the forecasts of the Bank of Mexico (Banxico) for 2024.

Regarding the exchange rate, the central bank expects the dollar to sell throughout the year between 17.68 pesos and up to 18.67 pesos per unit. A conservative forecast considering that the national currency destroyed the 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, since it reached its historical maximum of 8.7% at the end of 2022. Banxico forecasts inflation of 4.02% in 2024, however, it is not expected to be reached. soon to the ideal of three percentage points.

The above, however, contrasts with the growth forecasts for the Gross Domestic Product (GDP), since Banxico expects it to be 2.29% in 2024.

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

The Mexican peso is the legal tender of Mexico and is 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 as the most traded in Latin America and the third on the continent only behind the US and Canadian dollars.

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

The coins normally used in Mexico are semicircular in shape and have the national coat of arms on the reverse. One Mexican peso is equivalent to 100 cents. There are coins of 1, 5, 10 and 20 pesos; while in bills there are 20, 50, 100, 200, 500 and 1,000 pesos.

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