Mexican peso February 24, this is how the dollar sells today

Dollar falls to 20.93 pesos in windows

This is your lowest price of the week

Jerome Powell, Chairman of the Federal Reserve (Fed), committed to current monetary policy in the United States

Mexican peso February 24. The dollar is sold for less than 21 pesos for the first time this week, after yesterday the president of the Federal Reserve (Fed), Jerome Powell, committed to the current monetary policy in U.S, according to information from the Agency The universal.

CitiBanamex opened this Wednesday offering the currency at 20.93 pesos, eight cents less than on Tuesday and means its lowest price since last Friday, when it ended at 20.91 units.

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HSBC exchanges the dollar at 20.52 pesos, Banorte at 20.65, BBVA at 20.73 and Inbursa at 20.90 units. In wholesale operations, the exchange rate stands at 20.53 pesos per dollar, the same level as yesterday, although earlier it reached 20.35 units, according to information from the Bloomberg agency.

In its economic report this Wednesday, CitiBanamex explains that various sectors have expressed their concern about this initiative, stating that the proposal opens the door to an indirect expropriation, violates commitments made in international treaties and violates the non-retroactivity of the law.

Also, it would irreparably damage legal and regulatory certainty, generate serious environmental and economic impacts, increase prices of products and services, would generate a higher fiscal cost for subsidies and is unconstitutional.

Gasoline and gas on the rise

On the other hand, inflation in the first half of February maintained its upward trend mainly due to the increase in the price of gasoline and domestic LP gas, according to the most recent data released by Inegi.

The National Consumer Price Index registered a biweekly inflation of 0.23% in the first half of February, as well as an annual inflation of 3.84%, the highest rate since October 2020, which is close to 4.0%, a higher level of the target range of Banco de México (With information from Agencia El Universal).

Filed Under: Mexican Peso February 24

Mexican peso February 24

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: 20.13 Mexican pesos for every dollar.

MoneyGram takes the exchange rate at: 19.99 Mexican pesos for every dollar.

Transferwise takes the exchange rate at: 20.19 Mexican pesos for every dollar.

Remitly takes the exchange rate at: 20.93 Mexican pesos for every dollar.

Pangea Money Transfer takes the exchange rate in: 19.90 Mexican pesos for every dollar.

Filed Under: Mexican Peso February 24

Mexican peso February 24

“Given recent pressures on raw material prices, especially the strong disruption in energy at a global level last week due to the closure of activities in the southern United States due to frost, it is very likely that the upward dynamics could spread ”, estimated economic analysts from Banorte.

Among the goods and services whose rising prices had a greater impact on inflation, the following stand out; low and high octane gasoline with fortnightly increases of 1.96% and 1.87% respectively; domestic gas LP, 1.09%; potato and other tubers, 4.77%; chicken, 1.19%; bananas 6.43%; automobiles, 0.65%; lunch boxes, inns, torterías and taquerías, 0.26%; egg, 1.37%; and pet food, 1.84%.

On the contrary, the generics whose falling prices contributed the most to containing inflation were: tomatoes with a fortnightly decrease of 20.68%; onion, -9.20%; avocado, -5.24%; nopales, -6.07%; hair products, -1.57%; zucchini, -5.77%; electricity, -0.23%; poblano pepper, -8.98%; melon, -5.58%; other vegetables and legumes, -1.13%.

Filed Under: Mexican Peso February 24