- The peso starts March appreciating 28 cents against the dollar
- This is the biggest gain in a month
- For now, more fiscal stimulus is expected in the United States
Mexican peso March 1. The Mexican peso began March with the highest gain against the dollar in a month, amid optimism due to the greater stability of interest rates and the expectation that central banks will act to reduce volatility, while more fiscal stimuli are expected in the United States. United, as reported The universal.
The exchange rate is located this morning at 20.58 pesos per dollar and is equivalent to an appreciation of the Mexican currency of 1.3% or 28 cents compared to last Friday.
This is the best performance of the peso in one day since February 5, when it gained 1.4% or 29 cents and the parity was close to 20 units, according to the wholesale prices published by the Bloomberg agency.
In bank windows, CitiBanamex sells the dollar at 21.03 pesos and represents a drop of 34 cents compared to Friday. BBVA offers the currency at 20.90 and Banorte at 20.95 units.
They show a greater appetite for risky assets
The dollar loses ground against the peso and other currencies as investors show greater appetite for risky assets, as interest rates have stabilized.
Also, due to the expectation that central banks will act to reduce volatility, Banorte analysts explained in a report issued this morning.
This week, investors will be watching the February employment report in the American Union, as well as the final stretch of the corporate reporting season and the probable approval of the fiscal stimulus.
Mexican peso March 1
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: 20.37 Mexican pesos for every dollar.
MoneyGram takes the exchange rate at: 20.24 Mexican pesos for every dollar.
Transferwise takes the exchange rate at: 20.40 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: 20.15 Mexican pesos for each dollar.
Filed Under: Mexican Peso March 1
As mentioned before, investors will be watching the February employment report in the American Union, as well as the final stretch of the corporate reporting season and the probable approval of the fiscal stimulus.
Other relevant events include the National People’s Congress in China and the ministerial meeting of the Organization of the Petroleum Exporting Countries (OPEC). Monetary policy decisions are also expected in Australia, Poland and Malaysia, among others.
It will also feature the Beige Book and various interventions by members of the Federal Reserve (Fed), including its president Jerome Powell, amid high volatility in US Treasury bonds.
Also, February inflation will be published in the euro area. In Mexico, the focus will be on the central bank’s quarterly report this Wednesday, especially on the adjustments to its inflation estimates and comments on the dynamics of financial markets. On the agenda, we also have remittances and the public finance report, indicated in Banorte (With information from Agencia El Universal).
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