Price of the dollar today in Mexico: know how much the exchange rate is this March 10

The price of the dollar in Mexico closed lower on Wednesday with greater force than its Latin American peers and the stock market rose after an erratic session marked by a pause in an escalation in the prices of raw materials, which boosted the demand for risky assets .

The exchange rate ended the session at 20.9047 Mexican pesos per dollar, a decline of 2.17% compared to the reference price of the Reuters agency on Wednesday. For the day of March 10, 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 lost 2.17% and the exchange rate is trading at 20.90 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 lower?

The Mexican peso appreciated on Wednesday more strongly than its Latin American peers and the stock market rose after an erratic session marked by a pause in a rise in commodity prices, which boosted demand for risky assets.

Commodities fell after soaring to multi-year highs on global supply concerns in the face of conflict between Russia and Ukraine, two major producers of energy, metals and crops.

According to the Reuters agency, the domestic currency was trading at 20.9047 per dollar almost at the end of business, with a gain of 2.17%, its best performance since mid-June 2020 and ending a four-day losing streak. that led her to play her worst level since the beginning of December on the eve.

“Operators take advantage of the pause in the bullish ‘rally’ in commodity prices to make opportunity purchases in the Mexican foreign exchange market, but due to the complex and high-risk scenario, new episodes of pressure cannot be ruled out”CI Banco said in a report.

Analysts also attributed the strengthening of the peso to the release of higher-than-expected figures for local inflation in February, which strengthened expectations of further hikes in the key interest rate.