The U.S. dollar is showing signs of gaining even more strength against the Mexican peso, as the greenback hit a nearly two-week high by selling for 17.03 pesos in Mexico City banks on Monday Sept. 21.
The dollar ended Monday with an increase of 10 centavos compared to the close on Friday Sept. 18, being sold at up to 17.03 pesos, and bought at a minimum of 16.08 pesos in Mexico City banks.
Meanwhile, the euro gave ground at 18.98 pesos, representing a decrease of 14 cents, while the yen reached a price of 0.141 pesos.
The Bank of Mexico (Banxico) set the exchange rate to settle liabilities denominated in foreign currency payable in Mexico on 16.6865 pesos per dollar.
Analysts attributed the dollar’s continued strengthening to the decision by the Bank of Mexico to maintain interest rates relatively low at 3 percent, leaving the peso more exposed to global currency volatility.
This has wiped out all possibility that the peso could maintain its strength, as this week the central bank had to auction off USD$400 million, due to the rapid depreciation of the Mexican currency held in the intraday market.
The 52-week range for the dollar – peso exchange rate has oscillated from 13.2 to 17.3.
Sources: noticieros.televisa.com; informador.com.mx; reuters.com; bloomberg.com.
more recommended stories
Japanese delegation comes to Mérida to strengthen bilateral relationship
The project of the Chicxulub crater.
First house entirely made of Sargassum built by Mexican inventor in Quintana Roo
PUERTO MORELOS, Q. Roo, September 20,.
Protests in Homun, Yucatan against the opening of mega pig farm
On Friday September 21, the conflict.
Day of the Dead Parade Mexico City, three years stunning the world
For the third year in a.
Viva Aerobus announces new direct flights between Cancun and the U.S.
Viva Aerobus, the ultra low cost.
Vessel control centers urgently needed in Quintana Roo
“A control center like the one.
Photographic festival coming to Mérida in November
For the first time, the Mérida.
Trump demands a border wall but many congressional Republicans just not into it
WASHINGTON DC – President Donald Trump.
Mexico analyzing U.S. proposal on deportation funding
MEXICO CITY (Reuters) – Mexico’s government.
López Obrador promises an extra 10 billion pesos for earthquake recovery
President-elect Andrés Manuel López Obrador yesterday.