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Price of the dollar today in Mexico: know how much the exchange rate is this June 26

The price of the dollar in Mexico trades lower on Friday, amid market and investor concerns about a possible further slowdown in the global economy that could slip into recession.

The exchange rate ended the session on Thursday at 20.0083 Mexican pesos per dollar, a decrease of 0.04% compared to the reference price of the Bloomberg agency on Wednesday.

What is the price of the dollar today in Mexico?

The US currency was trading lower and the exchange rate is trading at 20.00 pesos per dollar, according to data from the Bloomberg 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?

Regionally, most Latin American currencies and stocks were trading at a loss on Thursday, amid market and investor concerns about a possible further slowdown in the global economy that could slip into recession.

“The continuous rises in interest rates to curb inflation have put an additional obstacle to the recovery of the economy and there is already open talk about the possibility of a global recession, which increases the nervousness of the markets,” said a operator.

According to the Reuters agency, the day before, the president of the United States Federal Reserve (Fed), Jerome Powell, indicated that the entity is fully committed to controlling prices, even if doing so risks facing an economic recession.

“We are not trying to cause, and I don’t think we need to cause, a recession,” Powell said at a hearing before the Senate Banking Committee, although he acknowledged that a recession was “certainly a possibility” and the events of the last few months in the world have made it more difficult to reduce inflation without causing a drop in activity.

“It is essential that we bring inflation down if we are to have a sustained period of strong labor market conditions that benefit everyone,” Powell said. The central bank will be looking in the coming months for “convincing evidence” of a slowdown in price pressures before easing interest rate hikes started three months ago.

Source: Elcomercio

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