Price of the dollar today in Mexico: know how much the exchange rate is this March 16

The price of the dollar in Mexico operates downwards, in a market with an eye on the start of the two-day monetary policy meeting of the US Federal Reserve (Fed).

The exchange rate ended the session on Tuesday at 20.8200 Mexican pesos per dollar, a drop of 0.38% compared to the reference price of the Reuters agency on Monday. For the day of March 16, the value of the dollar will be known in the early hours of the day.

In addition, the benchmark S&P/BMV IPC stock index rose 0.38% to 53,010.01 points, after three consecutive days of losses in which it accumulated a decline of 2.05%.

What is the price of the dollar today in Mexico?

The US currency lost 0.38% and the exchange rate is trading at 20.82 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 and the stock market gained on Tuesday in a market with an eye on the start of the two-day monetary policy meeting of the US Federal Reserve (Fed).

Investors expect U.S. central bank governors to announce the first interest rate hike since late 2018 on Wednesday, amid efforts to rein in the onslaught of inflation.

“Investors are awaiting the Fed’s monetary decision to be released on Wednesday. The latest Russia-Ukraine negotiations are also followed.”affirmed Intercam Grupo Financiero in an analysis note.

According to a Ukrainian negotiator, kyiv and Moscow resumed talks on the war in Ukraine on Tuesday after pausing on Monday.

Contrary to the market trend, a new drop in Grupo Aeroméxico shares stood out, which sank 26.75% to 59 cents. In the last four sessions the papers have lost almost half of their value.

In the debt market, yields on Treasury Certificates (Cetes) registered mixed changes in the primary auction of central bank government securities. The 28-day Cete rate rose 18 basis points to 6.33%.