He American dollar is paid today to 17.01 Mexican pesos on averageso that it represented a change of 0.1% compared to the data from the previous day, when it marked 17.03 pesos.
“Today, the peso depreciated sharply after learning of the local election results and their future implication on possible modifications to the Constitution, which attracted a feeling of international caution in a week where Mexico’s inflation figure will stand out,” he points out. an analysis of Vector Casa de Bolsa cited by the agency Reuters.
Taking into account the last seven days, the American dollar notes an increase in 2%%; Despite this, for a year now there has still been a decrease in 0.94%.
Comparing this data with that of previous days, it puts an end to four consecutive sessions with a positive trend. Regarding the volatility of recent dates, it presents a visibly lower performance than the volatility shown in the figures for the last year, so that its price is presenting fewer changes than expected in recent dates.
The Mexican 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 economic growth forecasts, since Banxico expects it to be 2.29% in 2024.
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.
