During the last session, the American dollar was listed at the close of 18.70 Mexican pesos on averageso it represented a change of 1.53% from the price of the previous session, which was 19 Mexican pesos on average.
Looking at last week’s data, the American dollar gets a raise 1.22%; but for a year it still maintains a drop in 7.11%.
As for today’s changes compared to previous days, it turned things around from the previous day, when it marked a 1.77% rise, showing itself unable to establish a clear trend recently. Over the past week, volatility has exhibited a performance that is demonstrably higher than the volatility shown in last year’s data, so it exhibits 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 back. 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%.