Price of the dollar in Mexico today: how much is the exchange rate this Friday, March 11, 2022 | DOF | SIS | Citibanamex | TDEX | NMR | ECONOMY

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The price of the dollar in Mexico closed higher on Thursday after the disclosure of inflation figures in the United States that reinforced expectations that the Federal Reserve will begin to raise interest rates at its meeting next week.

The exchange rate ended the session at 20.9410 Mexican pesos per dollar, an increase of 0.23% compared to the reference price of the Reuters agency on Wednesday. For the day of March 11, the value of the dollar will be known in the early hours of the day.

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What is the price of the dollar today in Mexico?

The US currency gained 0.23% and the exchange rate is trading at 20.94 pesos per dollar, according to data from the Reuters agency.

What is the Mexican peso?

The Mexican peso is the official currency of Mexico and the fifteenth most traded currency worldwide, as well as the third in the region, below the US dollar and the Canadian dollar.

The Mexican currency was the first to use the ‘$’ sign which was later popularized by the United States with US dollars. Also, since 1993 the abbreviation for the Mexican peso is ‘MXN’.

In Mexico, one peso is equivalent to 100 cents and there are coins of 1, 5, 10 and 20 pesos, as well as bills of 20, 50, 100, 200, 500, and 1,000 pesos.

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Why did it close higher?

The Mexican peso and the stock market fell on Thursday after the release of inflation figures in the United States that reinforced expectations that the Federal Reserve will start raising interest rates at its meeting next week.

Investor sentiment was compounded by renewed concerns about the crisis between Russia and Ukraine, and its impact on the world economy, given the lack of progress in talks held by their foreign ministers on Thursday in Turkey.

“In the global financial markets, a performance consistent with an increase in risk aversion is observed again,” said Gabriela Siller, director of analysis at the local Banco Base.

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