Mexican peso March 4, this is how the dollar sells today

For the sixth consecutive day, the dollar is trading at more than 21 pesos in windows

Bloomberg figures indicate that the dollar is trading at 20.82 pesos in wholesale operations

The Mexican currency has appreciated 0.6% or 12 cents compared to Wednesday

Mexican peso March 4. The dollar is trading at more than 21 pesos in bank windows for the sixth consecutive day, after the increase in the yields of Treasury bonds in the United States, as reported The universal.

CitiBanamex opened by selling the currency at 21.30 pesos this Thursday, nine cents less than yesterday. BBVA offers the dollar at 21.19 and Banorte at 21.25 units.

PHOTO Twitter El Imparcial

Figures from Bloomberg indicate that the dollar is trading at 20.82 pesos in wholesale operations and is equivalent to an appreciation of the Mexican currency of 0.6% or 12 cents compared to Wednesday.

Possible inflationary outbreak in sight

Since last week, the gains in the dollar are related, in part, to the higher yields of the Treasury bonds in the United States and the concern of investors about a possible inflationary outbreak, driven by the new fiscal stimulus, and that this cause the Federal Reserve (Fed) to raise interest rates earlier than anticipated.

In a report published this morning, Banorte analysts explain that market participants will focus their attention this Thursday on the speech by Fed Chairman Jerome Powell at a virtual seminar of the Wall street journal at 11:05 a.m., Mexico City time.

«The markets expect more action and less communication with the possibility of a twist operation (trying to force a drop in long-term rates),» they state.

The Senate In the United States this Thursday enters the final stage of the process to approve the new fiscal stimulus package and the vote is expected to last until the weekend.

Filed Under: Mexican Peso March 4

Mexican peso March 4

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: 20.55 Mexican pesos for every dollar.

MoneyGram takes the exchange rate at: 20.51 Mexican pesos for every dollar.

Transferwise takes the exchange rate at: 20.67 Mexican pesos for every dollar.

Remitly takes the exchange rate at: 21.41 Mexican pesos for every dollar.

Pangea Money Transfer takes the exchange rate in: 20.29 Mexican pesos for every dollar.

Filed Under: Mexican Peso March 4

Come negative quarter without fiscal support

The American Chamber Mexico (AmCham) warned about the possibility of a negative growth rate in the first quarter of 2021 due to the lack of a fiscal package that encourages economic activity.

Despite this, for this year, the association’s economic advisor, Luis Foncerrada Pascal, estimated that a growth of 3.2% will be achieved, after the 8.5% drop in Gross Domestic Product (GDP) in 2020. However, for the following years, growth rates will not exceed 2%, if there is no vaccination plan and no investments are reactivated.

In this scenario, for 2022 a growth of 1.9% of Mexico’s GDP is expected, a projection that considers a decrease in investment. He explained that if this rate of expansion is maintained, it will take five years to reach the levels of 2019.

«Given that public investment remains at negative levels and private investment does not recover at the rate necessary to grow, especially after 2021, the economy may be destined to advance below 2%,» said Foncerrada Pascal (With information from El Universal Agency).

Filed Under: Mexican Peso March 4

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