Mexican peso February 25, this is how the dollar sells today

The dollar rises 25 cents, to 21.12 pesos

The Mexican peso ranks as the second currency with the highest losses

Dollar gains respond to concerns that the new fiscal package in the United States will cause an inflationary outbreak

Mexican peso February 25. The dollar is sold again in more than 21 units this Thursday, with the Mexican peso ranking as the second currency with the highest losses, according to information from the Agency The universal.

The foregoing is due to the greater perception of risk in Mexico due to the approval of the Electricity Industry Law, as well as the concern that the new fiscal package will cause an inflationary outbreak in U.S.

PHOTO Twitter El Digital Mex

With the worst performance against the dollar

CitiBanamex opened by selling the dollar at 21.12 pesos, 25 cents more expensive than yesterday. Monex exchanges the currency at 21.30, Scotiabank at 21.35 and BanRegio at 21.70 units.

In wholesale operations, the exchange rate stands at 20.65 units and is equivalent to a depreciation of the peso of 27 cents or 1.3%, being the currency with the worst performance against the dollar this Thursday, only behind the South African rand, according to information from the Bloomberg agency.

The peso loses ground due to the greater perception of risk in Mexico, in particular, due to the implementation of policies and changes in laws that inhibit investment, highlighting the recently approved reform to the Electricity Industry Law, explains Gabriela Siller, chief economist at Banco Base.

Siller also stresses that the recovery of the Mexican economy is expected to be slow due to a limited vaccination process.

The gains in the dollar respond to the concern that the new fiscal package in the United States will cause an inflationary outbreak, say analysts at Banorte in a report released this morning.

Filed Under: Mexican Peso February 25

Mexican peso February 25

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: 20.34 Mexican pesos for every dollar.

MoneyGram takes the exchange rate at: 20.21 Mexican pesos for every dollar.

Transferwise takes the exchange rate at: 20.62 Mexican pesos for every dollar.

Remitly takes the exchange rate at: 21.34 Mexican pesos for every dollar.

Pangea Money Transfer takes the exchange rate in: 20.14 Mexican pesos for every dollar.

Filed Under: Mexican Peso February 25

National economic activity fell 3.5% in 2020

Economic activity in the United States grew at an annual rate of 4.1% in the fourth quarter of 2020, somewhat more than previously calculated, but for the year as a whole it suffered a fall of 3.5%, reported today the Office of Economic Analysis (BEA).

In the second of its three calculations of gross domestic product (GDP), the agency added a tenth of a percentage point to its preliminary estimate of growth for the fourth quarter of the year, published in January, but kept the annual result unchanged.

The world’s largest economy experienced ups and downs in 2020 caused by the coronavirus pandemic, and GDP, which fell at an annual rate of 5% in the first quarter, fell by 31.4% in the second and rebounded to 33, 4% between July and September.

The annual contraction of 3.5% was the largest since the end of World War II, and followed a GDP growth of 2.2% in 2019.

The BEA indicated that the report «reflects both the continued economic recovery after the deep contractions in the first half of the year and the continued impact of the pandemic, including new restrictions and closures of activities.»

Filed Under: Mexican Peso February 24