- Mexican peso loses ground this October 12 against the dollar
- The US currency sells for 21.62 Mexican pesos
- Mexican currency lowered its value of just under 0.5% in the interbank sphere
The Mexican peso gives ground this October 12 against the dollar, the exchange rate is registered at the window and the dollar is sell at 21.62 pesos, according to information from the news portal of The financial.
According to data from Bloomberg, the coin Mexicana lowered its value by just under 0.5% in the interbank sphere.
This is the first time in 6 days that the Mexican peso achieved some Profits However, the risk remains in the markets.
The Mexican currency depreciates 0.44 percent, to 21.23 units, this according to the first data from Bloomberg, in addition, at the bank window, the dollar is sold at 21.62 pesos, according to Citibanamex.
Faced with this ‘stumble’ of the Mexican currency, Gabriela Siller, director of economic and stock market analysis at Banco Base, explained what she sees.
In a verbatim way, he stated: “The corrective movement in favor of the dollar is due to the fact that the market has behaved at the same rate as the Chinese yuan, which depreciated 0.75 percent at the beginning of the week, due to the fact that positions in the Asian market were reduced against the US dollar ”.
And he added: “Likewise, the People’s Bank of China set the reference exchange rate at 6.7126 yuan per dollar, higher than expected.”
This situation occurs in the middle of the negotiations in the United States on the stimuli, since the Secretary of the Treasury, Steven Mnuchin, presented a new plan of 1.9 trillion dollars.
It is also given in the middle of the announcement to the electoral campaign of Donald Trump, after he tested positive for coronavirus and was admitted for a few days in the hospital.
Mexican peso October 12: This is how the dollar sells today
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: 21.01 Mexican pesos for every dollar.
MoneyGram takes the exchange rate at: 20.74 Mexican pesos for every dollar.
Transferwise takes the exchange rate at: 21.21 Mexican pesos for every dollar.
Remitly takes the exchange rate at: 20.75 Mexican pesos for every dollar.
Pangea Money Transfer takes the exchange rate in: 20.66 Mexican pesos for every dollar.
Filed Under: Mexican Peso October 12
According to El Universal, since the Covid-19 pandemic began, Mexico has suffered one of the highest inflation rates in the American continent, due to exchange rate depreciation.
Accumulated inflation has been 0.91% in the last six months, between March and August, while in the same period last year it was 0.57%, indicates the National Consumer Price Index of Inegi.
It is one of the highest inflations on the continent, only behind a few countries.
Venezuela suffers the highest increases not only in America, but in the entire world, with hyperinflation of almost 500%, according to its central bank.
Suriname is in second place among the countries with the highest inflation, trailing during the pandemic, of 33.60% between March and August; then follows Argentina, with 13.70%; Uruguay, with 5.13%, and Peru, with 1.04%, according to the price indexes of the institutes and agencies of each country.
Mexico continues on that long list, with inflation four times higher than Brazil and twice that of the United States and Chile. In Colombia, inflation during the pandemic was only 0.02%; in Canada, there is a deflation of 0.29%.
Filed Under: Mexican Peso October 12
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