Price of the dollar today in Mexico: know how much the exchange rate is this March 8

The price of the dollar in Mexico closed higher on Monday, in a day marked by the escalation of the conflict between Russia and Ukraine and the uncertainty of the duration of the Russian invasion, which has caused nervousness in the global markets.

The exchange rate ended the session at 21.3441 Mexican pesos per dollar, an advance of 1.95% compared to the reference price of the Reuters agency on Friday. For the day of March 8, the value of the dollar will be known in the early hours of the day.

What is the price of the dollar today in Mexico?

The US currency gained 1.95% and the exchange rate is trading at 21.34 pesos per dollar, according to data from the Reuters agency.

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?

The Mexican peso and the stock market fell on Monday in a day marked by the escalation of the conflict between Russia and Ukraine and the uncertainty of the duration of the Russian invasion, which has caused nervousness in the global markets.

The exchange rate has broken through the level of 21.00 pesos per dollar, a price not seen since December. At these levels, an episode of risk aversion can quickly push the exchange rate towards the next key resistance, according to analysis by Banco Base.

The benchmark S&P/BMV IPC stock index closed down 1.89% at 52,312.61 points.

The decreases of more than 6% of the titles of Controllera Vuela Compañía de Aviación, Grupo Bimbo and Grupo Televisa during the day stood out.

Analysts have also set their sights on the price of crude oil, which has advanced close to 65.0% so far in 2022, according to Monex.

In the debt market, the 10-year bond yield rose 34 basis points to 8.34%, while the 20-year rate rose 25 basis points to 8.68%.