Price of the dollar today, June 6, 2024; this is how it is quoted against the peso

The price of the dollar today Thursday, June 6 in 2024 in Mexico is 17.57 according to the quote published by investing.com, which means a positive variation for the peso compared to previous days.

The dollar is trading at a low of 18.19 pesos (its worst level since October) and a low of 17.45.

The exchange rate in the Major banks in Mexico This Thursday is the next one:

Following last Sunday’s votes, Mexican peso and the stock market had a dramatic fall for two days, but everything indicates that the currency and the markets are beginning to react positively.

The peso recovered ground midweek following investors became nervous regarding the possibility of the ruling party obtaining an absolute majority in Congress that would allow it to push through deep constitutional reforms.

What does the price of the dollar depend on?

The price of the dollar is determined by a variety of economic and financial factors. Some of the main factors that influence its value are:

Interest Rates: Interest rates set by the central bank influence the attractiveness of a currency. Higher interest rates can attract foreign investment, increasing demand for and the value of the dollar.

Inflation: Low inflation rates tend to increase the value of the currency, as purchasing power remains stable. High inflation can devalue a currency.

Economic Growth: Strong economic growth can strengthen a currency due to confidence in the country’s economy and increased foreign investment.

Monetary and Fiscal Policy: Central bank and government decisions regarding monetary policy (such as money printing) and fiscal policy (such as government spending) have a major impact on the value of the dollar.

Political Stability: A country’s political stability affects investor confidence in its currency. Conflict, drastic policy changes, or instability can devalue a currency.

Global Events: Economic crises, natural disasters, international conflicts and other global events can affect the perception of the dollar as a safe haven, influencing its value.

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