The price of the dollar in Mexico It operates on the rise this Monday, amid the publication of the minutes of the Federal Reserve of the United States, in which it was warned about the tightening of measures against inflation.
The exchange rate ended the session on Friday at 19.6003 Mexican pesos per dollar, an increase of 0.11% compared to the reference price of the Bloomberg agency on Thursday. For the day of May 30, the value of the dollar will be known in the early hours of the day.
The US currency was on the rise and the exchange rate is trading at 19.60 pesos per dollar, according to data from the Bloomberg agency.
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.
The behavior of the markets was influenced by the publication of the minutes of the Federal Reserve (Fed) of the United States, in which it was warned about the tightening of measures against inflation.
The US central bank is trying to cool the highest inflation in 40 years without throwing the economy into a recession. After raising interest rates by half a percentage point at the May meeting, the minutes confirmed the support of most members to continue this rate hike for at least two more meetings.
The directors of the Fed “noted that a restrictive policy stance may well become appropriate depending on how the economic outlook evolves”, the minutes said. In his opinion, the labor demand continued to exceed the available supply.