Price of the dollar today in Mexico: know how much the exchange rate is this May 10

The price of the dollar in Mexico operates on the rise, amid a global wave of aversion to risk assets, due to fears of a rapid slowdown in the world economy as a result of monetary tightening by central banks.

The exchange rate ended the session on Monday at 20.3709 Mexican pesos per dollar, an advance of 1.17% compared to the reference price of the Reuters agency on Friday. For the day of May 10, the value of the dollar will be known in the early hours of the day.

“Expectations of a greater monetary tightening by the Federal Reserve to combat inflation and fears of a slowdown in world economic growth led investors to seek safety in the dollar,” said Janneth Quiroz, deputy director of analysis at Monex Grupo Financiero.

The main stock index S&P/BMV IPC, which includes the 35 most liquid companies in the Mexican market, fell 0.98% to 49,057.46 unit points and recorded its third consecutive day of losses, dragged down by growing concerns about the growth of the global economy.

What is the price of the dollar today in Mexico?

The US currency was trading lower 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, Latin American currencies and stock markets closed lower on Monday, amid a global wave of aversion to risk assets, due to fears of a rapid slowdown in the world economy due to a monetary tightening of central banks.

According to the Reuters agency, although it closed the day slightly lower, the dollar reached a 20-year high on Monday, due to risk aversion stemming in part from concerns about the Federal Reserve’s ability to combat high inflation. boosted the appeal of the US currency earlier.

The dollar index fell 0.135% to 103.630 after touching 104.19, its highest level since December 2002, with the euro rising 0.15% to $1.0567.

Meanwhile, MSCI’s main emerging market stock index fell to its lowest level since July 2020 on Monday, under pressure from rising interest rates, a slowing Chinese economy, the Ukraine and a strong dollar.