Home Business-newBusiness Peso-dollar exchange rate stable as week begins

Peso-dollar exchange rate stable as week begins

by Yucatan Times
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The Mexican currency was stable while the market awaits the nomination of the candidate to preside the United States Federal Reserve (Fed) in 2018. Bancomer offers the dollar at 19.47 pesos, while Citibanamex and Banorte do so at 19.25 pesos, and Santander at 18.42 pesos…

It is likely that this week any increase in the exchange rate is more closely related to a strengthening of the dollar than to a weakening of the peso, due to the probability that the Fed will raise its benchmark rate in December, said Base Bank in a report.

Also, since last week the market has favored the dollar given the greater probability that the US Senate will approve the tax reform before the end of the year.

PHOTO: radiozocalo.com

In exchange houses of Mexico City’s International Airport, the dollar recorded an average price of 19.04 pesos the sale and of 17.44 pesos to the purchase; the US currency sells at a maximum of 19.39 pesos and is acquired in a minimum of 17.10 pesos.

For its part, the euro is quoted at a maximum price of 23.59 pesos at the
sale and 21.90 pesos to purchase; pound sterling is acquired at 23.00
pesos and is sold at 26.00; while the yen is bought at 0.17 and
is sold at 0.25 pesos.

Sources: Reuters and Notimex via milenio.com

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