Price of the dollar today in Mexico: know how much the exchange rate is this Friday, March 4

The price of the dollar in Mexico closed higher on Thursday, focused more on investors’ concerns about an increase in inflation due to the increase in the prices of raw materials.

The exchange rate ended the session at 20.6748 Mexican pesos per dollar, an advance of 0.32% compared to the reference price of the Reuters agency on Tuesday. For the day of March 4, the value of the dollar will be known in the early hours of the day.

For its part, the main stock index S&P/BMV IPC, which includes the 35 most liquid companies in the Mexican market, rose 0.33%.

What is the Mexican peso?

The Mexican peso is the official currency of Mexico and the fifteenth most traded currency worldwide, as well as the third in the region, below the US dollar and the Canadian dollar.

The Mexican currency was the first to use the ‘$’ sign which was later popularized by the United States with US dollars. Also, since 1993 the abbreviation for the Mexican peso is ‘MXN’.

In Mexico, one peso is equivalent to 100 cents and there are coins of 1, 5, 10 and 20 pesos, as well as bills of 20, 50, 100, 200, 500, and 1,000 pesos.

Why did it close higher?

Most Latin American currencies closed sharply higher on Thursday, favored by oil prices, which reached levels not seen in a decade due to Russia’s invasion of Ukraine, which will mean a greater influx of dollars to the countries of the region. raw material exporters.

Benchmark Brent crude prices neared $120 a barrel amid a halt in Russian oil exports as traders try to avoid getting embroiled in sanctions.

“Supply-side pressures remain high as the conflict in Ukraine triggers new sanctions against Russia, which could soon extend to oil and gas”said Ricardo Evangelista, senior analyst at ActivTrades. “In this scenario, there is room for further price gains”he added.