East Africa News Post

Complete News World

Dollar: The peso rose at the close on December 13

Dollar: The peso rose at the close on December 13

File Image – Illustration showing a $100 bill. (Reuters/Sam Mirkovic)

he American dollar Paid at closing for 17.22 pesosThis represents a change of 0.42% compared to the previous day’s value, which was 17.29 pesos.

Regarding last week, American dollar represents a decrease in 1.44%so from year to date there is still a decline 6.81%.

Comparing this data with the data of the previous days, it added two consecutive sessions of decline. Regarding the fluctuations of the past few days, it presented a balance slightly lower than the fluctuations reflected in last year’s data, which indicates that in this last stage there are fewer fluctuations than the general trend indicates.

After several days of speculation about the actions of the Federal Reserve, the authorities decided to keep the benchmark federal funds rate between 5.25% and 5.5%, which is according to data from the Federal Reserve. BloombergThis is the highest since 2001.

he Mexican peso Going on a winning streak against American dollar However, since mid-2022, in the second half of 2023 the currency reached its best levels not seen since 2016, reaching the barrier of 17 units per dollar.

Colloquially it is called as “Overweight”The strength of the Mexican currency is largely due to the decisions of the Bank of Mexico (Banxico) regarding reference rates, while at the same time increasing its attractiveness to investors.

With stabilization in public finances and remittances achieved in 2023, the Government of Mexico estimates that the 2022 remittance record ($58,487 million) could be broken.

In a country where it suffered in previous years Strong value cutsThe strength of the Mexican peso against the dollar is good news, because it also favors a reduction in the amount of external debt (contracted in dollars).

See also  A flight bound for Dallas encounters a situation after taking off from San Juan local

Financial analysts have confirmed that the “super peso” series may end by 2023, because while the US Federal Reserve is considering two interest rate increases, the Banxico is only seeking to maintain them, which would make the currency return to the 19 level. Units per dollar.

The Mexican peso is The fifteenth most traded currency in the worldIn addition, it is the most traded dollar in Latin America and the third largest on the continent after the US and Canadian dollars.

Coins commonly used in Mexico are semicircular in shape and have the national coat of arms on the reverse side. One Mexican peso is equivalent to 100 cents. There are coins of 1, 5, 10 and 20 pesos; While banknotes contain 20, 50, 100, 200, 500 and 1000 pesos.

The Mexican peso presented a big surprise at the end of 2022, becoming the second most valuable currency against the dollar in a panorama that many had not seen. Currency exchange rate They were able to face international factors.

According to the Bank of Mexico (Banxico), the Mexican peso rose 4.87% as it closed 2022 at $19.50 pesos per dollar compared to $20.53 on the first day of the same year. This is its best annual performance in a decade.