The Mexican peso gains against the dollar at Tuesday’s open

the American dollar is quoted at the opening 19.94 Mexican pesos on averageso it implied a decline of 0.42% if compared to the 20.02 Mexican pesos on average in the previous session.

Last week the American dollar registered a decrease of 1.83% and for a year it still maintains a drop in 0.68%. Compared to previous dates, it adds six consecutive sessions down. The volatility referring to the last week is 2.8%, which is a figure significantly lower than the annual volatility data (8.59%), so in this last phase there are fewer changes than normal.

In the annual photo, the American dollar It was paid at a maximum of 21.36 Mexican pesos on average, while its lowest level was 19.75 Mexican pesos on average.

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 worldthe first most traded in Latin America and the third at the continental level 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 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.

Currently, the Mexican peso has seen its balance shaken after the arrival of the COVID-19 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 of Mexico.

the uncontrollable inflationalso in the wake of COVID-19, which is keeping monetary policy on edge, has also left the peso in limbo against 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 only kept essential activities open, which had a severe impact on 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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