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The Mexican peso is outlined for a week of declines against the dollar

The exchange rate did not have its best week.  (Infobae)
The exchange rate did not have its best week. (Infobae)

The IS American dollars It is negotiated at the beginning of the activities this August 19 a 20.19 Mexican pesos on average,That represented the change of 0.37% compared to the previous day’s average of 20.12 Mexican pesos.

If we consider last week’s data, the American dollars accumulation rise i 1.75%; however, in year-on-year terms, it continues to decline 2.18%. Analyzing this data with that of the previous days, he positively chains four consecutive dates. Regarding the volatility of the last week, it is clear that it is lower than the data obtained for the last year (8.88%), so it has a more stable behavior than the general trend shows recently.

The IS Mexican peso It is the legal currency of Mexico and the first currency in the world to use the $ sign, which was later adopted by the United States for the dollar.

It is the Mexican peso the fifteenth most traded currency in the worldas well as the most traded in Latin America and the third on a continental level alone behind the US dollar and the Canadian dollar.

Currently the abbreviation MXN is used to talk about the Mexican Peso, but before 1993 the acronym MXP was used.

The coins usually used in Mexico have a semi-circular shape with the national coat of arms on the back. One Mexican peso equal to 100 cents. Coins are 1, 5, 10 and 20 pesos; and in bills there are 20, 50, 100, 200, 500 and 1,000 pesos.

At the moment, the Mexican Peso has lost its stability after the arrival of the SARS-CoV-2 pandemic in the world, as well as other events that have marked it as both national and United States election processes, one of Mexico’s main trading partners. .

the uncontrolled inflationalso as a result of COVID-19, which keeps monetary policy on hold, it left the peso in uncertainty before a dollar that almost always strengthens.

During 2021, the Mexican peso closed with a depreciation of 2.72% against the dollar, although it remained largely stable at trade flows and, in particular, exports to the United States.

According to Bank of Mexico (Banxico) forecasts, by 2022 the Mexican peso is expected to rise and reach 9:34 pm units per dollar.

Mexico announced a quarantine on March 23, 2020 before the Pandemic covid-19 and it only kept essential activities open, which meant a strong blow to the economy that did not manage to fully recover.

Mexico’s economy, the second largest in Latin America after Brazil, grew by 5% in 2021, according to figures from the National Institute of Statistics and Geography (Inegi).

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