Price of the dollar today in Mexico: know how much the exchange rate is this April 28

The price of the dollar in Mexico operates on the rise, amid a global wave of risk aversion due to concern about the world economy.

The exchange rate ended Wednesday’s session at 20.3780 Mexican pesos per dollar, an advance of 0.22% compared to the reference price of the Reuters agency on Tuesday. For the day of April 28, the value of the dollar will be known in the early hours of the day.

Operators mentioned that the strengthening of the peso was due to the prospect that the Bank of Mexico will also raise its rate in May, following the steps of the Fed, which would maintain the wide differential between the yields offered by the debt of both nations.

The main stock index S&P/BMV IPC, which includes the 35 most liquid companies in the Mexican market, fell 0.31% to 52,516.20 units, contrary to the trend of markets abroad, in a market attentive to the season of corporate reports for the first quarter of the year.

What is the price of the dollar today in Mexico?

The US currency was on the rise and the exchange rate is trading at 20.37 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 higher?

At the regional level, most of the currencies of Latin America fell on Wednesday amid an advance of the dollar at a global level, while the bulk of the regional stock markets rebounded after two days of sharp falls, although fears for the economy continued to weigh on investor sentiment.

According to the Reuters agency, the dollar index, which compares the greenback against a basket of six main currencies, climbed around 0.8%, while the euro sank to five-year lows.

The euro fell below $1.06 on Wednesday for the first time in five years, against a strengthening US currency amid growing concerns about energy security and slowing growth in China and Europe.

The single currency has fallen more than 4% so far in April and is headed for its worst monthly loss in more than seven years, as uncertainty surrounding the war in Ukraine and lockdown measures in China have led to traders to dump the euro in favor of the dollar as a safe haven.

“China lockdown fears have exaggerated the downside risk for the euro/dollar,” said Jane Foley, head of currency strategy at Rabobank London.