Puerto Vallarta, Mexico – The Mexican peso has reached a new record low against the US dollar, according to the Official Gazette of the Federation (DOF). The exchange rate surged past the 20 pesos per dollar mark and is approaching 21 pesos, signaling a significant depreciation of the national currency.
Current Exchange Rate
The National Bank of Mexico has set the exchange rate at 20.5693 MXN per US dollar, an increase from the previous day’s rate of 20.4502 MXN. The equivalence of the Mexican peso with other foreign currencies will be calculated based on the exchange rates governing those currencies against the US dollar in international markets on the day the payment is made. These rates will be provided upon request by the country’s credit institutions.
Other financial services have set today’s exchange rate at 20.4145 MXN. The dollar is priced at 20.0229 MXN for buying and 20.8061 MXN for selling. Projections suggest that tomorrow it could average 20.546 MXN, with selling at 20.475473 MXN and buying at 20.5447 MXN. However, these are estimates and are subject to change.
Market Analysis
According to data from the specialized website Eldolar.info, the US dollar has started the day with a 2.22% increase. Over the past month, it has gained 2.37%, and over the quarter, it has risen by 4.67%. On an annual basis, the dollar reports a 20.44% increase.
Under the administration of US President Joe Biden, the dollar has increased by 4.86%. In Mexico, during the presidency of Andrés Manuel López Obrador, the peso has experienced an increase of 1.61% against the dollar.
Bank Transactions
For those looking to exchange dollars, the Bank of Mexico offers competitive rates. According to the interbank 48-hour opening on Monday, the dollar is available for purchase at 20.4525 MXN and for sale at 20.4063 MXN.
Advice for Currency Exchange
Individuals planning to buy or sell dollars, engage in transactions denominated in US currency, or prepare to exchange pesos for travel are advised to compare rates across different institutions to find the most favorable terms.
Global Significance
The dollar exchange rate remains one of the most closely watched financial indicators worldwide, regardless of one’s country. This is due to the high level of globalization and the extensive commercial activities between individuals, companies, and governments on an international scale.
Puerto Vallarta, Mexico - The Mexican peso has reached a new record low against the US dollar, according to the Official Gazette of the Federation (DOF). The exchange rate surged past the 20 pesos per dollar mark and is approaching 21 pesos, signaling a significant depreciation of the national currency.
