Mexico: What is the price of the dollar today, Friday, October 22, 2021?

The exchange rate was trading lower on Friday at Mexico due to the appreciation of the peso in the face of a decline in the dollar and after local inflation data, which fueled bets that the central bank would raise its benchmark interest rate for the fourth consecutive time next month, and even extend the cycle of increases.

Today the price of the dollar was trading at 20.2080 pesos in the Mexican market, a level 0.42% lower than the reference price on Thursday.

Reuters reported that the Mexican peso was shaping up to post a moderate weekly gain.

The National Consumer Price Index (INPC) of Mexico increased 6.12% and exceeded the official goal. Meanwhile, year-on-year core inflation grew at a rate of 5.12%, its highest level since June 2009.

“With inflation to remain stubbornly high, it is clear that Banxico’s (Banco de México) tightening cycle has to be extended,” said Nikhil Sanghani, emerging markets economist at Capital Economics.

On the other hand, the Mexican Stock Exchange (BMV) operated with losses at mid-day on Friday. The benchmark S & P / BMV IPC index lost 0.08% to 51,971.23 points with a volume of 34.8 million securities traded. The Mexican stock market outlined a cumulative decline in the week.

With information from Reuters