Mexican peso February 16, this is how the dollar sells today

The Mexican peso is at its worst level against the dollar this February 16

It is the most depreciated currency, given a greater perception of risk with respect to the country

In retail operations, the dollar is sold at 20.67 pesos

According to the exchange rate,

the Mexican peso is at its worst level against the dollar this February 16 since February 8 and is the coin more depreciated, given a higher perception of risk with respect to the country, due to the direct effects of the cold wave in several northern states and the response of the federal government to the event, according to The universal.

The national currency reached 20.25 units per dollar this morning, after closing yesterday at less than 20 pesos for the third consecutive day, prices indicate wholesale published by the Bloomberg agency.

The current level of the Mexican currency is equivalent to a loss of 28 cents or 1.4% compared to Monday, ranking as the most depreciated currency this Tuesday, followed by the South African rand.

Image taken from Twitter @diaplazajuarez

In retail operations, the dollar sells for 20.67 pesos at CitiBanamex windows, 25 cents more expensive than yesterday.

The exchange rate has overcome the resistance of 20 pesos, given a greater perception of risk with respect to Mexico, due to the direct effects of the cold wave in several northern states and the response of the federal government to the event.

Given this, the peso is the most depreciated currency in the basket of 16 main crosses of the dollar, explained this morning Gabriela Siller, chief economist at Banco Base.

This Monday, the cold left about 4.8 million users without electricity in several states of the country, after the supply of natural gas from Texas, United States was interrupted, according to a statement from the Federal Electricity Commission ( CFE).

The power cuts have been intermittent and have extended to this Tuesday.

In commodity markets, the price of natural gas at some delivery points rose from $ 3 to $ 300 per British thermal unit.

Mexican peso February 16

What is the best option to send money to Mexico from the United States?

This is the comparison of money transfer service providers, so that you can make a better decision when sending dollars to your relatives in Mexico:

Western Union takes the exchange rate at: 19.91 Mexican pesos for every dollar.

MoneyGram takes the exchange rate at: 19.76 Mexican pesos for every dollar.

Transferwise takes the exchange rate in: 20.16 Mexican pesos for every dollar.

Remitly takes the exchange rate at: 19.54 Mexican pesos for every dollar.

Pangea Money Transfer takes the exchange rate in: 19.59 Mexican pesos for every dollar.

Filed Under: Mexican Peso February 16

Mexican peso February 16

This Friday the government report on employment will be released, which is expected to show an increase in hiring around 100,000, according to the data provider FactSet. The unemployment rate is forecast to remain at 6.7 percent for the third month

Although the year began with hopes of an economic reactivation due to the application of the coronavirus vaccine, some analysts predict that the Mexican peso will lose against the dollar in 2021, according to the El Universal news agency.

However, they do not see the whole picture in a diffuse way, since they trust that this year oil and the Mexican Stock Exchange will achieve profits.

The dollar achieved a close of 2020 at 19.91 pesos and accumulated a depreciation of 5.5% or 1.04 units during the year, this due to the high volatility in the markets due to the coronavirus.

In addition, they point out that it is very possible that the wholesale exchange rate will depreciate to 20.30 pesos by the end of 2021, according to the results of the most recent survey that CitiBanamex carried out with more than 29 banks.