Price of the dollar today in Mexico: know how much the exchange rate is this May 4

The price of the dollar in Mexico operates downwards, taking advantage of a correction of the dollar during the session in the prelude to the announcements that the US Federal Reserve will make regarding increases in the reference cost of money.

The exchange rate ended the session on Tuesday at 20.2800 Mexican pesos per dollar, a drop of 0.89% compared to the reference price of the Reuters agency on Monday. For the day of May 4, the value of the dollar will be known in the early hours of the day.

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?

At a regional level, most Latin American currencies closed higher on Tuesday, taking advantage of a correction of the dollar during the session in the run-up to the announcements that the US Federal Reserve will make regarding increases in the reference cost of money.

According to the Reuters agency, the US currency fell against a basket of currencies, as investors evaluated to what extent the rate hike expected by the Fed for this week and later was already discounted.

Investors adjusted their positions ahead of the Fed’s biggest rate hike since 2000, amid a wave of monetary policy tightening by other central banks.

“Markets continue to bet on an encouraging outcome at the Fed meeting starting today, where a 50 basis point rate hike is expected, with an outward possibility of an even more aggressive move, in the fight from the US central bank to control inflation,” said Ricardo Evangelista, of ActivTrades.