Price of the dollar today in Mexico: how much is the exchange rate this Saturday, January 29

The exchange rate in Mexico it operated on Saturday on the rise due to the depreciation of the peso, after the United States Federal Reserve outlined a more restrictive monetary policy.

The exchange rate was quoted in the morning at 20.7621 Mexican pesos per dollar, up 0.06% from Thursday’s Reuters benchmark price.

During the day, the peso depreciated to 20.8549 units, its weakest level since December 22.

The dollar, meanwhile, consolidated its gains and headed for its biggest weekly rise in seven months, as bets on interest rate hikes in the United States boosted the currency’s gains against its rivals.

The Fed said Wednesday it will likely raise rates in March and reaffirmed plans to end its pandemic-era bond purchases that month, before starting a significant reduction in its asset holdings.

“Volatility has been the tone of the week”, CI Banco said in a report. “After the initial scare due to the tension in Ukraine, speculation about the Fed and the result of the meeting, which was announced on Wednesday, arrived”, he added.

With information from Reuters.