Price of the dollar today in Mexico: know how much the exchange rate is this March 17

The price of the dollar in Mexico operates downward, due to a greater appetite for risk, in the face of signs of a possible solution to the conflict between Russia and Ukraine, on a day in which attention was focused on the Reserve’s monetary policy meeting United States Federal (Fed).

The exchange rate ended Wednesday’s session at 20.6148 Mexican pesos per dollar, a drop of 0.99% compared to the reference price of the Reuters agency on Monday. For the day of March 17, the value of the dollar will be known in the early hours of the day.

In addition, the main stock index S&P/BMV IPC, which includes the 35 most liquid companies in the Mexican market, rose 0.76% to 53,411.88 units.

What is the price of the dollar today in Mexico?

The US currency lost 0.99% and the exchange rate is trading at 20.61 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?

Most of the currencies and the bulk of the stock markets in Latin America closed higher on Wednesday, due to a greater appetite for risk, given signs of a possible solution to the conflict between Russia and Ukraine, on a day in which attention was set at the monetary policy meeting of the United States Federal Reserve (Fed).

Russia said on Wednesday that peace talks with kyiv are not easy, but there are signs a deal can be reached, and Ukraine’s neutrality is under serious discussion.

“Negotiations are not easy for obvious reasons,” Russian Foreign Minister Sergei Lavrov told RBC channel. “But nevertheless, there is some hope of reaching a compromise.”

Meanwhile, the Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and projected that rates will be in a range between 1.75% and 2% by the end of the year, an aggressive stance against inflation. which will push borrowing costs to restrictive levels in 2023.

In a new monetary policy statement, marking the end of the US central bank’s all-out battle against the coronavirus pandemic, the Fed stressed the enormous uncertainty it faces from the war in Ukraine and the ongoing health crisis, but still said “continued increases” in fed funds rates to curb the highest inflation in 40 years “will be appropriate.”