Earlier in the day, the US dollar was short trading at 20.58 Mexican pesos, which showed a 0.24% drop from the previous day's 20.63 Mexican peso.
As for profitability over the past 7 days, the US dollar has fallen by 1.56%, but on the contrary, it is still up 3.64% during the year. Three consecutive dates fall compared to the previous day. Since the volatility over the past few days is clearly lower than the volatility accumulated last year, it has been showing a more stable behavior lately than usual.
In theannual picture, the US dollar turned into 21.36 Mexican pesos, and the lowest level was 20.23 Mexican pesos. The US dollar is closer to its lowest point than it is at its highest.
Mexican currency
The Mexican peso is legal tender in Mexico and is the first currency in the world to use the $ symbol, which was later adopted by the United States as dollars.
Mexican Peso is the 15th most traded currency in the world, the most traded in Latin America, and the third on the continent, only behind US and Canadian dollars.
Currently, the abbreviation MXN is used to talk about the Mexican peso, but before 1993, the abbreviation MXP was used.
Coins commonly used in Mexico are semi-circular and have a national coat of arms on the reverse. A Mexican peso costs 100 cents. There are coins worth 1, 5, 10, and 20 pesos. There are 20, 50, 100, 200, 500 and 1,000 pesos on the banknotes.
Ablow to the weight
Currently, the Mexican peso has been hit by its robustness after the arrival of the COVID-19 pandemic around the world and other events marked by the electoral process in the country as one of Mexico's main trading partners, both nationally and in the United States.
Uncontrollable inflation, as a result of monetary policy held back by COVID-19, has almost always faced a strong dollar, leaving a burden among uncertainties.
During 2021, the Mexican peso closed a 2.72% depreciation against the dollar, but trade flows, especially exports to the United States, remained substantially stable.
According to the Mexican Banco (Banxico) forecast, the Mexican peso is expected to rise by 21.34 units per dollar in 2022.
Faced with the COVID-19 pandemic, Mexico declared its quarantine on March 23, 2020, leaving only essential activities open, which have had a major impact on an economy that she hadn't fully recovered.
According to data from the National Institute of Statistics and Geography (Inegi), Mexico's economy, the second largest in Latin America after Brazil, increased by 5% in 2021.
Agencies
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