Price of the dollar today in Mexico: know how much the exchange rate is this March 23

The price of the dollar in Mexico operates downward, amid a greater supply of dollars in the countries of the region derived from the rebound in the prices of raw materials, despite an intraday correction of crude oil.

The exchange rate ended the session on Tuesday at 20.2835 Mexican pesos per dollar, a fall of 0.42% compared to the reference price of the Reuters agency on Monday. For the day of March 23, the value of the dollar will be known in the early hours of the day.

Meanwhile, the main stock index S&P/BMV IPC rose 0.46% to 55,722.48 points, in its fifth consecutive day of gains.

What is the price of the dollar today in Mexico?

The US currency was trading lower and the exchange rate is trading at 20.28 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?

“Investors are discounting that Banco de México will follow in the footsteps of the Fed in terms of its monetary tightening”affirmed Monex Grupo Financiero in an analysis note.

At the regional level, the markets of Latin America closed on Tuesday with appreciations, amid a greater supply of dollars in the countries of the region derived from the rebound in the prices of raw materials, despite an intraday correction of crude oil.

According to the Reuters agency, the markets also assimilated the expectations of a more aggressive increase in the monetary policy of the United States, which at the same time would induce more increases in the interest rates of the countries of the region.