The euro is trading at the opening at 22.53 Mexican pesos on average, which represented a decrease of 0.95% compared to the previous day's figure, when it ended with 22.75 Mexican pesos on average.
In the last week, the euro recorded a decrease of 1.33%, so that for a year it has still accumulated a decline of 7.33%. In relation to past days, he chains three successive sessions in negative values. In reference to the volatility of the last week, it shows a lower behavior than the volatility reflected in the figures for the last year, which shows that its price is showing less change than normal in recent dates.
In the annual photo, the euro has even changed by a maximum of 23.66 Mexican pesos on average, while its lowest level has been 22.53 Mexican pesos on average.
The Mexican peso panorama
The Mexican peso is the legal tender of Mexico and is the first currency in the world to use the $ sign, which was later taken up by the United States for the dollar.
The Mexican peso is the fifteenth most traded currency in the world, as well as the most traded in Latin America and the third on the continent only behind the US and Canadian dollars.
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 have a semicircular shape and have the national coat of arms on the reverse. One Mexican peso equals 100 cents. There are coins of 1, 5, 10 and 20 pesos; while in banknotes there are 20, 50, 100, 200, 500 and 1,000 pesos.
Currently, the Mexican peso has seen its balance hit after the arrival of the coronavirus pandemic in the world, as well as other events that have marked it as electoral processes both nationally and in the United States, one of Mexico's main trading partners.
Uncontrollable inflation, also as a result of COVID-19, which keeps monetary policy on hold, has also left the weight between uncertainty in the face of an almost always strengthened dollar.
During 2021, the Mexican peso closed with a 2.72% depreciation against the dollar, although it remained largely stable to trade flows and, in particular, exports to the United States.
According to the forecasts of the Banco de México (Banxico), for 2022 the Mexican peso is expected to rise to 21.34 units per dollar.
Mexico declared a quarantine on March 23, 2020 in the face of the COVID-19 pandemic and kept only essential activities open, which was a major blow to the economy that has not fully recovered.
Mexico's economy, the second largest in Latin America after Brazil, increased 5% in 2021, according to figures from the National Institute of Statistics and Geography (Inegi).
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Agencies