Mexican peso February 11, this is how the dollar is sold today

Mexican peso appreciates this February 11

According to the exchange rate, the dollar is sold at 20.38 pesos

This morning the currency reached a low of 20.1803 units

After the number of people in the United States who applied benefits by unemployment Due to coronavirus it fell slightly last week to 793 thousand, the Mexican peso appreciates this February 11, according to the exchange rate, the dollar is sell at 20.38 pesos, according to information from AP and The financial.

This morning the currency reached a minimum of 20,

1803 units, at 8:14 pm on Wednesday, and a maximum of 20,4944 units, at 10:00 am on Wednesday.

In the interbank sphere, the currency appreciates 0.58 percent, to 19.92 units, according to data provided by Bloomberg.

Image taken from Twitter @NTelevisa

The decline in the number of benefits means that layoffs remain numerous despite the decline in viral infections. This is announced as the Mexican peso appreciates this February 11.

Last week’s total was less than the 812,000 last week, the Labor Department said Thursday. A figure of 779,000 had previously been reported.

Before the outbreak of the coronavirus in the United States in March, claims for unemployment benefits never exceeded 700,000 a week, not even during the Great Recession.

The improvement in the labor market stopped from September to December and in the last two months it has stagnated. In the last two months, 178,000 jobs have been cut. Nearly 10 million jobs have been lost so far since the pandemic.

Although the unemployment rate fell in January to 6.3% compared to 6.7% the previous month, that was mainly due to the fact that many people who lost their jobs stopped looking for a new one. The government only counts as unemployed those actively seeking employment.

In all, 20.4 million people were receiving unemployment benefits in the week ending January 23, the most recent period for which figures are known. That of the previous week was 17.8 million.

Mexican peso February 11

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: 19.67 Mexican pesos for every dollar.

MoneyGram takes the exchange rate at: 19.50 Mexican pesos for each dollar.

Transferwise takes the exchange rate at: 19.94 Mexican pesos for every dollar.

Remitly takes the exchange rate at: 19.53 Mexican pesos for every dollar.

Pangea Money Transfer takes the exchange rate at: 19.41 Mexican pesos for every dollar.

Filed Under: Mexican Peso February 11

Mexican peso February 11

This Friday the government report on employment will be released, which is expected to show an increase in hiring around 100,000, according to the data provider FactSet. The unemployment rate is forecast to remain at 6.7 percent for the third month

Although the year began with hopes of an economic reactivation due to the application of the coronavirus vaccine, some analysts predict that the Mexican peso will lose against the dollar in 2021, according to the El Universal news agency.

However, they do not see the whole picture in a diffuse way, since they trust that this year oil and the Mexican Stock Exchange will achieve profits.

The dollar achieved a close of 2020 at 19.91 pesos and accumulated a depreciation of 5.5% or 1.04 units during the year, this due to the high volatility in the markets due to the coronavirus.

In addition, they point out that it is very possible that the wholesale exchange rate will depreciate to 20.30 pesos by the end of 2021, according to the results of the most recent survey that CitiBanamex carried out with more than 29 banks.

With information from AP