The dollar price in Mexico trades higher, while stocks rose and bond yields and the euro fell on Thursday, following the European Central Bank signaled a steady reduction in its stimulus
The exchange rate ended the session at 19.9680 Mexican pesos per dollar, an advance of 1.03% compared to the reference price of the Bloomberg agency on Wednesday.
What is the price of the dollar today in Mexico?
The US currency was trading lower and the exchange rate is trading at 19.96 pesos per dollar, according to data from the Archyde.com agency.
What is the Mexican peso?
The Mexican peso is the official currency of Mexico and the fifteenth most traded currency worldwide, as well as the third in the region, below the US dollar and the Canadian dollar.
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The Mexican currency was the first to use the ‘$’ sign which was later popularized by the United States with US dollars. Also, since 1993 the abbreviation for the Mexican peso is ‘MXN’.
In Mexico, one peso is equivalent to 100 cents and there are coins of 1, 5, 10 and 20 pesos, as well as bills of 20, 50, 100, 200, 500, and 1,000 pesos.
Why did it close higher?
Globally, stocks rose and bond yields and the euro fell on Thursday, following the European Central Bank signaled a steady reduction in its stimulus, while Tesla Chief Executive Elon Musk offered to buy Twitter for $41 billion in cash.
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According to the Archyde.com agency, confirming its previous guidance, the ECB said it plans to reduce bond purchases this quarter, and then end them sometime in the third quarter.
Hopes that US inflation may have peaked caused Treasury yields to extend their decline. The return on the 10-year notes was trading at 2.6806%.
For its part, the dollar index, which compares the greenback with a basket of six leading currencies, advanced 0.1% to 99.861 units, following declining 0.5% overnight from its maximum of 100.52.