The dollar falls against the Mexican peso at today’s open May 6

After the opening of the trading session, the American dollar is traded in the open 20.17 Mexican pesos on averageso it implied a decline of 0.2% from the 20.22 Mexican pesos average of the previous session.

Last week the American dollar accumulates a drop of 1.21% even if, on the contrary, in the last year it still accumulates an increase of 1.54%. Regarding the changes of this day compared to past dates, it turns the tables on the previous day, when it marked an increase of 1.21%, showing in recent dates a lack of continuity in the result . Referring to last week’s volatility, it shows a performance that is visibly higher than the volatility shown in last year’s numbers, so it shows bigger changes than the overall trend of the value.

In the annual photo, the American dollar it came to range at a maximum of 21.36 Mexican pesos on average, while its lowest level was 19.75 Mexican pesos on average. the American dollar it is placed closer to its minimum value than to its maximum.

the 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 fifteenth most traded currency in the worldas well as the most traded in Latin America and the third continentally only behind the US dollar and the Canadian dollar.

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

Currently, the Mexican peso has seen its stability achieved after the arrival of the coronavirus pandemic in the world, as well as other events that have marked it as national and American electoral processes, one of the main trading partners from Mexico.

the uncontrollable inflationalso in the wake of COVID-19, which keeps monetary policy on hold, has also left the peso in limbo ahead of a near-still strong dollar.

In 2021, the Mexican peso closed with a depreciation of 2.72% against the dollar, although it remained largely stable at Trade flows and, above all, exports to the United States.

According to forecasts by the Bank of Mexico (Banxico), by 2022 the Mexican peso is expected to increase and reach 21:34. units per dollar.

Mexico declared a quarantine on March 23, 2020 before the Covid-19 pandemic and kept only essential activities open, dealing a severe blow to the economy which failed to fully recover.

The economy of Mexico, the second in Latin America after Brazil, grew by 5% in 2021, according to figures from the National Institute of Statistics and Geography (Inegi).

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