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Business

Daily Exchange: Dollar Closes at 18.43 Pesos

Banks purchased the dollar for a minimum of 16.95 pesos

The dollar dropped in value on Thursday, photo: CAPITAL MEDIA/Alejandro Meza
3 months ago

The dollar dropped 21 centavos to finish the day at a selling price of 18.43 pesos at Mexico City currency exchanges. Banks purchased the dollar for a minimum of 16.95 pesos.

Mexico’s Central Bank (Banxico) set the exchange rate at 18.1270 pesos per dollar.

According to Juan Somoma, a financial analyst at CI Bank, the market fluctuation was in response to the announcement of an economic policy released Thursday by Banxico, which increased its funding rate by 25 basis points to 7.0 percent.

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