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Price of the dollar today in Mexico: know how much the exchange rate is this June 13

The price of the dollar in Mexico operates on the rise this Monday, given the negative performance of global markets after inflation in the United States exceeded estimates, which generated expectations of aggressive interest rate hikes in the world’s largest economy.

The exchange rate ended the session on Friday at 19.9560 Mexican pesos per dollar, an advance of 1.52% compared to the reference price of the Reuters agency on Thursday.

The currency traded very close to 20 pesos per dollar and episodes of volatility are expected to continue, due to the return of speculation in the markets about the pace of increases in the Federal Reserve interest rate after the latest inflation data in the United States, Banco Base said.

With this data, three increases in the Fed rate of 50 basis points and two of 25 basis points are expected for this year, he added.

The main stock index S&P/BMV IPC, which includes the 35 most liquid companies in the Mexican market, fell 1.66% to 48,471.52 units, in its third consecutive day of losses.

The main stock markets in the world operated with falls, amid concerns about economic growth, high inflation, the risk of financial fragmentation in the Eurozone and the new closures in China due to the coronavirus, Ci Banco said.

What is the price of the dollar today in Mexico?

The US currency was on the rise and the exchange rate is trading at 19.95 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 a regional level, Latin American currencies closed with significant losses on Friday, dragged down by the negative performance of global markets after inflation in the United States exceeded estimates, which generated expectations of aggressive interest rate hikes in the largest economy in the world.

According to the Reuters agency, consumer prices in the United States accelerated in May because gasoline reached an all-time high and the cost of services continued to rise, suggesting that the Federal Reserve could continue with its 50 basis point hikes in interest rates until September to combat inflation.

The Consumer Price Index (CPI) rose 1.0% last month after gaining 0.3% in April, the Labor Department said on Friday. Economists polled by Reuters had forecast the monthly CPI to rise 0.7%.

“Strong monthly inflation could suggest that the Fed is guiding more explicitly that policy rates continue to rise by 50 basis points or more until actual inflation data convincingly accelerates,” said Veronica Clark, economist at Citigroup. In New York.

Also, the dollar index, which measures the greenback against a basket of six major currencies, rose about 0.9%, driven by a rise in US Treasury bond yields.

Source: Elcomercio

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