Price of the dollar today in Mexico: know how much the exchange rate is this March 31

The price of the dollar in Mexico is operating downwards, in the midst of a global decline in the dollar, and with the markets attentive to the negotiations for a ceasefire between Russia and Ukraine, although with an atmosphere of caution.

The exchange rate ended the session on Wednesday at 19.8600 Mexican pesos per dollar, a decrease of 0.52% compared to the reference price of the Reuters agency on Tuesday. For the day of March 31, the value of the dollar will be known in the early hours of the day.

“The exchange rate is approaching the technical level of 19.80 pesos per dollar, supported by the inflow of dollars from exports, remittances and possibly portfolio investment in capital. If it breaks the 19.80 level it can go to levels between 19.50-19.60″anticipated Gabriela Siller, director of analysis at the firm Banco Base.

“Either way, downside risk continues from the pandemic, the war in Ukraine and local issues”he added.

The main stock index, S&P/BMV IPC, which includes the 35 most liquid companies in the Mexican market, fell 0.53% to 55,814.99 units, after advancing to a record level the day before, due to less optimism around the peace negotiations between Ukraine and Russia.

What is the price of the dollar today in Mexico?

The US currency was on the rise and the exchange rate is trading at 19.86 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?

At the regional level, the currencies and stock markets of Latin America showed a mixed behavior at the close of operations on Wednesday, amid a global decline in the dollar, and with the markets attentive to the negotiations for a ceasefire between Russia and Ukraine, albeit with an atmosphere of caution.

According to the Reuters agency, the dollar depreciated to a low of almost two weeks on Wednesday, when optimism about the peace talks between Russia and Ukraine faded and the attention of investors was focused on economic data and expectations around to interest rates.

The dollar index, which compares the greenback to a basket of six currencies, traded 0.57% lower at 97.861 in New York afternoon, having earlier hit its lowest level since March 17.

Much of the decline was due to the strength of the euro, which rebounded on Tuesday following Russia’s promise during peace talks to scale back its attacks on kyiv.

Meanwhile, the Kremlin on Wednesday welcomed the fact that kyiv had put in writing its demands to end the conflict in Ukraine, but said there was still no sign of a breakthrough.

Kremlin spokesman Dmitri Peskov told reporters that Russia had not seen anything really promising or that looked like progress, saying there was a long period of work ahead.