Mexico’s beleaguered peso fell to its lowest level since February on Tuesday June 13, weakening to below the 19 peso per dollar level as jitters over fears Britain may vote next week to leave the European Union hurt the Mexican currency.
Traders were also cautious ahead of a U.S. Federal Reserve meeting this week, with an oil price slump also biting. The peso reached as low as 19.025 per dollar, but later pared losses, to trade down 0.87 percent at 18.998 pesos per dollar.
In bank branches, the US dollar stood at 19.30 in Banco del Bajio, while Monex BanRegio was selling at 19.25 pesos. Other institutions such as Banamex, BBVA Bancomer, Santander and Banorte were selling in the range of 19.05 to 19.14 pesos per US dollar.
In Mexico City International Airport exchange centers, the average sale price was 19.11 pesos per dollar and was bought at 17.72 pesos. The highest price of dollar sale was 19.15 pesos, while for purchase the lowest cost was 17.70 pesos.
The Bank of Mexico reported that the exchange rate for Tuesday was 18.7915 pesos per US dollar. At the close of Monday’s session, the peso ended with a loss of 1.09 percent, trading around 18.83 pesos.
According to the UBS Financial Group, the spot exchange rate would see levels of up to 19.25 pesos until the end of the third quarter, which would mean peso levels above 19.50 in the retail market.
more recommended stories
First came George Floyd in Minneapolis, and then Walter Wallace in Philadelphia
Philadelphia remains on high alert after.
AMLO signs an agreement with the UN for the purchase of medicines abroad
Mexico City (October 29, 2020).- President.
Vila Dosal requests Declaration of Emergency for municipalities affected by Zeta
Governor Mauricio Vila Dosal formally requested.
Joe Biden’s odds to win rise, but more bets on Donald Trump
Review Journal (October 29, 2020).- Former.
MORENA Representatives remove 32 billion pesos from the Health Fund
MEXICO CITY (Times Media Mexico) –.
Santa Muerte devotees will caravan through Mérida on Saturday, October 31st
MÉRIDA.- Despite the current health situation,.
Thieves loot church in Samahil, Yucatan
Samahil, Yucatan (October 29, 2020).- Two-legged.
Trump campaign hits Biden in first Spanish-language TV ad of general election
WASHINGTON — President Trump’s re-election campaign.
What do Mexico and Brazil think about the US election?
The U.S. elections are just one week away.
Facebook suspends Russian Instagram accounts targeting U.S. voters
LONDON/WASHINGTON (Reuters) – Facebook Inc said.