- The dollar strengthens this Wednesday
- According to Bloomberg data, it appreciates 1.08 percent, to 20.37 units, in the interbank sphere.
- According to CitiBanamex, the dollar is sold for 20.82 pesos at a bank window
Mexican peso February 17. As demand for the dollar increases as a result of the markets’ expectation of a strong rebound in US economic activity, the greenback strengthens on Wednesday, according to information from The financial.
According to Bloomberg data, the dollar appreciates 1.08 percent, to 20.37 units, in the interbank sphere, while at the bank window, it sells at 20.82 pesos, Citibanamex reported.
The Bloomberg index, which measures the strength of the dollar against a basket of ten currencies, advanced 0.51 percent, to 1,131.73 points.
IMF revises Latin America’s economic growth upwards
The International Monetary Fund on Monday raised the expectation of economic growth for 2021 in Latin America to 4.1%, but warned that the recovery continues under the threats of the pandemic and that it could go backwards if governments fail to contain the transmission of COVID-19.
“Clearly the recovery is at risk,” said Alejandro Werner, director of the IMF’s Western Hemisphere Department.
“The social and human costs of the pandemic have been enormous and cast a great shadow over this forecast,” he said in a virtual press conference offered from the agency’s headquarters in Washington.
The IMF’s forecasts are slightly more optimistic than those of the World Bank, which in early January said that economic activity in Latin America could grow between 2% and 3.7% in 2021 as countries relax the restrictions imposed to control the pandemic. At a global level, the forecasts are for a recovery of around 4%.
Since 2012, the region has been going through an economic slowdown that deepened in 2015 and 2016 with a contraction and ended in 2019 with stagnation. It was expected that 2020 would be a good year and that the economy would start to rebound little by little, but the scenario changed radically with the arrival of the coronavirus (With information from AP).
Mexican peso February 17
What is the best option to send money to Mexico from the United States?
This is the comparison of money transfer service providers, so that you can make a better decision when sending dollars to your relatives in Mexico:
Western Union takes the exchange rate at: 20.08 Mexican pesos for every dollar.
MoneyGram takes the exchange rate at: 19.91 Mexican pesos for every dollar.
Transferwise takes the exchange rate at: 20.20 Mexican pesos for every dollar.
Remitly takes the exchange rate at: 20.71 Mexican pesos for every dollar.
Pangea Money Transfer takes the exchange rate at: 19.71 Mexican pesos for every dollar.
Filed Under: Mexican Peso February 17
This Friday the government report on employment will be released, which is expected to show an increase in hiring around 100,000, according to the data provider FactSet. The unemployment rate is forecast to remain at 6.7 percent for the third month
Although the year began with hopes of an economic reactivation due to the application of the coronavirus vaccine, some analysts predict that the Mexican peso will lose against the dollar in 2021, according to the El Universal news agency.
However, they do not see the whole picture in a diffuse way, since they trust that this year oil and the Mexican Stock Exchange will achieve profits.
The dollar achieved a close of 2020 at 19.91 pesos and accumulated a depreciation of 5.5% or 1.04 units during the year, this due to the high volatility in the markets due to the coronavirus.
In addition, they point out that it is very possible that the wholesale exchange rate will depreciate to 20.30 pesos by the end of 2021, according to the results of the most recent survey that CitiBanamex carried out with more than 29 banks.
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Filed Under: Mexican Peso February 17
The post Mexican peso February 17: This is how the dollar sells today appeared first on Hispanic World.