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Mexico: closing price of the dollar today, January 29, from USD to MXN


US dollar bills are shown in this illustration taken, February 14, 2022. (REUTERS/Dado Ruvic/Illustration/File)

He American dollar was paid at closing to 17.19 pesosso that it implied an increase of 0.16% compared to the data from the previous session, when it ended with 17.17 pesos.

Taking into account the last week, the American dollar accumulates a decrease in 0.65%so in the last year it still accumulates a decrease in 4.47 percent.

If we compare the figure with previous days, it accumulated two consecutive dates of gains. The volatility referring to the last week was 6.33%, which is a figure visibly lower than the data from annual volatility (9.84%), presenting itself as a value with fewer variations than normal in recent dates.

(Infobae)

The Mexican economy has suffered a series of contrasts, which will continue, according to the forecasts of the Bank of Mexico (Banxico) for this 2024.

Regarding the exchange rate, the central bank expects the dollar to sell throughout the year between 17.68 pesos and up to 18.67 pesos. A conservative forecast considering that the national currency destroyed the 2023 forecasts, breaking the floor of 17 pesos per unit, which has not been seen for eight years.

For its part, inflation is expected to continue its downward trend since it reached its peak. all-time high of 8.7% at the end of 2022. Banxico predicts a inflation of 4.02% in 2024However, the ideal of three percentage points is not expected to be reached soon.

The above, however, contrasts with the growth forecasts for the Gross Domestic Product (GDP), since Banxico expects it to be 2.29% in 2024.

The Mexican peso is the fifteenth most traded currency in the world. (Banxico)

The Mexican peso is the legal tender of Mexico and it is the first currency in the world that used the $ sign, which was later taken up by the United States for the dollar.

This currency is the fifteenth most traded currency in the world, as well as the most traded in Latin America and the third on the continent only behind the US and Canadian dollars.

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

The coins normally used in Mexico are semicircular in shape and have the national coat of arms on the reverse. One Mexican peso is equivalent to 100 cents. There are coins of 1, 5, 10 and 20 pesos; while in bills there are 20, 50, 100, 200, 500 and 1,000 pesos.



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