Euro: closing price today March 20 in Mexico

Euro: closing price today March 20 in Mexico

The euro is the second most important currency in the world and in Mexico it is among the top five. (Infobase)

He euro paid at the close of 20.17 Mexican pesos on averagewhich implied an increase of 0.15% compared to the 20.14 Mexican pesos on average the previous day.

If we consider the data of the last seven days, the euro accumulates a drop of 0.57%so that year-on-year there is still a decrease in the 3.87%.

Regarding the previous days, it has accumulated two consecutive dates in positive figures. Over the past week, the volatility was 26.87%, which is significantly higher than the yearly volatility data (10.44%), so it shows larger changes than the overall trend in value .

He mexican peso It is the legal tender of Mexico and it is the first currency in the world to use the $ sign, which was later taken over by the United States for the dollar.

The Mexican peso is the fifteenth most traded currency in the worldas well as the most traded in Latin America and the third at the continental level only behind the US and Canadian dollars.

Currently, the abbreviation MXN is used to talk about the Mexican peso, but before 1993 the initials MXP were used.

Coins normally used in Mexico are semi-circular in shape and have the national coat of arms on the reverse. one mexican peso equals 100 cents. There are coins of 1, 5, 10 and 20 pesos; while in banknotes there are 20, 50, 100, 200, 500 and 1,000 pesos.

mexican peso made a big surprise at the end of 2022 by becoming the second most popular currency against the dollar in a scenario where few currencies were able to cope with international factors.

According to the Bank of Mexico (Banxico), the Mexican peso had an appreciation of 4.87% at the end of 2022 at 19.50 pesos per dollar against $20.53 on the first day. This is its best annual performance for a decade.

However, various analysts have warned that 2023 could be a setback for the Mexican currencyas a recession in the United States, Mexico’s neighbor and main trading partner, is expected to end the resistance of the peso due to lower exports, remittances and foreign direct investment.

Over the past three decades, the country has performed below expectations in terms of economic growth, inclusion and poverty reduction compared to other countries. From 1980 to 2018 alone, Mexico grew by 2%.

Although in 2022 Mexico was able to recover from the blows of the coronavirus pandemic, progress is still slow but supported by its trade openness, manufacturing base and stable exports.

According to the latest forecasts from the Economic Commission for Latin America and the Caribbean (Cepal), the Mexican economy should grow by at least 1.1%

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.For tips or news submission: