According to Banco Base, low oil prices continue to affect the currencies of emerging economies and oil producing countries. (Photo: Google)
Mexican central bank Governor Agustin Carstens said on Tuesday February 9th that it is appropriate to maintain current levels of currency intervention due to the collection of shocks facing the peso’s exchange rate.
Banking Institutions in Mexico City sell American dollar for 19.15 pesos, five cents more than Monday February 8th, and buy it at a minimum of 18.31 pesos.
The euro meanwhile advanced 15 cents compared to the previous day and is offered in up to 21.47 pesos, while the yen reached a quote from the sale of 0.178 pesos.
According to Banco Base, low oil prices continue to affect the currencies of emerging economies and oil producing countries. And the current exchange rate levels make it highly probable that the Mexican currency could reach the 20 pesos per dollar historical record.
So far this month, the average differential peso-dollar exchange rate has been 35.2 cents, which is the highest since November 2008 and second only to October 2008, when the financial crisis began in the United States .
Monex Grupo Financiero announced that markets in the world have negative movements, after concerns about the financial system in Europe will increase, and the deterioration in the global economy.
Also on Tuesday February 9th, the exchange rate to settle liabilities in foreign currency payable in Mexico is 18.6959 pesos, according to the Bank of Mexico (Banxico) in the Official Gazette (Diario Oficial de la Federación).
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