

For the fist time in history, the U.S. dollar broke the 19 peso barrier in banks, due to a small rise in the price of oil.
Thursday morning the trajectory looked good for the Mexican peso, until midday when the peso began to plummet next to the dollar. It fell to a historic maximum of 19.1 pesos per dollar and minimum of 18.6 pesos per dollar.
The dollar rose 1.34 percent, or 24.8 cents against the local currency, a devaluation that implies a new historic exchange rate of 18.78 pesos per dollar.
Despite the U.S. dollar’s rise in the morning, Mexico’s Central Bank (Banxico) did not need to execute any sort of dollar auction in order to maintain the market.
During the fourth session of the week, the exchange rate fluctuated between 18.43 and 18.8 pesos per dollar. The euro varied between 1.07 to 1.09 dollars and between 19.87 and 20.46 pesos.
National Action Party (PAN) and Democratic Revolutionary Party (PRD) representatives told government authorities to leave their optimism aside and to recognize the critical economic situation of the country. Nevertheless, the president of the Public Budget and Accounts Commission and member of the Institutional Revolutionary Party (PRI), Baltazar Hinojosa, said that the government has taken the appropriate measures to confront the situation.
He said that the rise of the dollar should not impact the prices of products.
“We need to remain calm. Obviously this is a moment in which we need to act and I think that the government is acting in the best way possible,” Hinojosa said.
Source: thenews.mx
Comments
more recommended stories
Roble Unión: an obliterated community within Mérida City limits
Municipal President Renán Barrera Concha has.
America ‘It’s time to grow up’ (Joe Biden)
A story from President Biden’s past.
Yucatan Covid death toll over 3,300 count
The Ministry of Health reported that.
AMLO accuses the Director of Twitter in Mexico of being a PAN sympathizer.
President Andrés Manuel López Obrador said.
Comedian and journalist detractors of AMLO shoot online program in downtown Merida
MÉRIDA, YUCATAN (January 20, 2021)- Comedian.
Man found dead at his home in Ciudad Caucel
A resident of Ciudad Caucel was.
Can I get a refund for my canceled hotel stay in Mexico?
Bernadette Cieslak’s spring break trip is.
AMLO calls on Biden to fix immigration status of Mexican nationals
MEXICO CITY (Reuters) – The incoming.
Progreso will clean up mangroves and open a third ”Zona Verde”
A plan that includes a Touristic.
Mexico plans to administer 7.4 million doses of Russian Sputnik V vaccine by the end-March
(REUTERS) – Mexico aims to administer.
Leave a Comment