The Mexican peso extended gains against the dollar for the third consecutive session in the foreign exchange market.
The dollar in Mexico today, March 1, began the session with losses. The Mexican peso appreciated 0.19% against the greenback and stood at $18.2677 per unit (Mexico City 5:26 am).
Mexican superpeso was the best performing emerging currency in February
Later, the local currency extended the gains with an advance of 0.37% to settle at $18.2374 per dollar. During the intraday session, the Mexican currency registered a maximum of $18.3316 per unit and a minimum of $18.2131 per dollar, according to Bloomberg data.
“The Mexican currency was favored by an increase in the international appetite for risk instruments, due to the fact that timely indicators show that economic activity is having a better start in 2023 than expected,” the deputy director of Analysis at Monex mentioned in a note. , Janneth Quiroz.
In China, the Caixin manufacturing PMI was reported to have risen 51.6 points in February, from 49.2 the previous month.
As of Wednesday morning, the Mexican peso was the 14th best-performing currency against the dollar, out of a basket of 23 emerging currencies.
On February 28, the Mexican peso closed the session with an appreciation of 0.34% to settle at $18.3057 per unit, thus accumulating two days in positive territory.
The advance of the Mexican currency against the greenback is backed by the Bank of Mexico and the expectation that it will continue to widen the rate differential against the US benchmark; the entry of dollars into the country for remittances, exports, foreign investment and portfolio investment; added to the expectation of the relocation of companies to the north of the country, better known as nearshoring, according to analysts.
The dollar index fell 0.53% on the morning of March 1, to 104,252 points (Mexico City 5:33 a.m.).
The exchange rate is expected to trade between $18.20 and $18.32 per dollar during the day on Wednesday, according to Banco Base analysts.
Price of the dollar in Mexico today in banks
The dollar in Mexico today, March 1, fell in banks and exchange houses in the country. On average, the peso-dollar exchange rate was $18.3405 per greenback. For purchase at $17.9694 and for sale at $18.7116 per unit.
But, what is the price of the dollar in Mexico at Banco Azteca?
The price of the dollar in Mexico today March 1 starts like this:
- Aztec Bank $18.49
- Citibanamex $18,4937
- Banorte $18.60
- BBVA $18,60
- Scotiabank $19,50
- CIBanco $18,40
Dollar in Mexico at Benito Juárez airport
The dollar in Mexico today, March 1, is at the Benito Juárez airport at $19.10 average sale price and $17.60 purchase price.
Price of the euro in Mexico
The price of the euro today, March 1, in Mexico is MXN$19.4602 per unit, according to timely data from Banco de México.
What is the price of the euro in banks ?ADVERTISING
This is how euros are sold at bank windows:
- Aztec Bank $19.99
- Citibanamex $18.82
- Banorte $19.80
- BBVA $19,97
In the spot version, the euro rose 0.18% against the dollar to trade at US$1.0670 per unit; while the pound sterling increased 0.46% to settle at US$1.2045 per pound (Mexico City 5:38 am).ADVERTISING
Oil price in Mexico
The Mexican export mix is selling at US$67.27 per barrel, equivalent to an advance of 1.85% compared to the February 27 session, according to Pemex data. Regular gasoline in Mexico sells for an average of $21.93 per liter nationwide; while the premium amounts to MXN$23.99 per liter.
This story was updated at 8:25 a.m. on the quote and with the comment of the Monex analyst.
Mexico Daily Post