The American dollar was traded at closing 20.11 Mexican pesos on averagewhich represented a change of 0.69% compared to the 19.97 Mexican pesos on average the previous day.
Regarding the last seven days, the American dollar recorded a rise in 1.44%; although in the last year it still maintains a decrease in 3.09%. In relation to previous days, he accumulated three days in a row in positive digits. In reference to the volatility of the last week, it is lower than the figure achieved for the last year (8.89%), therefore in this last phase there are fewer variations than usual.
The Mexican peso It is the legal currency of Mexico and it is the first currency in the world that used the $ sign, which was later taken up by the United States for the dollar.
The Mexican peso is fifteenth most traded currency in the worldas well as the most traded in Latin America and the third on a continental level only 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 that are normally used in Mexico are semicircular in shape and have the national coat of arms on the back. one mexican peso equals 100 cents. There are coins of 1, 5, 10 and 20 pesos; while in bills there are 20, 50, 100, 200, 500 and 1,000 pesos.
Currently, the Mexican peso has seen its firmness shaken after the arrival of the COVID-19 pandemic in the world, as well as other events that have marked it as both national and United States electoral processes, one of Mexico’s main trading partners.
the uncontrollable inflationalso as a result of COVID-19, which keeps monetary policy on edge, has also left the peso in uncertainty in the face of an almost always stable dollar.
During 2021, the Mexican peso closed with a depreciation of 2.72% against the dollar, although it remained largely stable at trade flows and, especially, exports to the United States.
According to estimates by the Bank of Mexico (Banxico), by 2022 the Mexican peso is expected to rise and reach 9:34 p.m. units per dollar.
Mexico declared a quarantine on March 23, 2020 before the COVID-19 pandemic and kept only essential activities open, which meant a severe impact on the economy that has not managed to fully recover.
Mexico’s economy, the second largest in Latin America after Brazil, grew 5% in 2021, according to figures from the National Institute of Statistics and Geography (Inegi).
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