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Business

Daily Exchange: Dollar Drops to 21.91 Pesos

The euro rose 21 centavos to close at 23.18 pesos, while the pound and yen closed at 27.10 and 0.216 pesos, respectively

The dollar dropped 25 centavos on Friday, photo: CAPITAL MEDIA/Alejandro Meza
By The News Whatsapp Twitter Facebook Share
9 months ago

The dollar fell eight centavos to close at a selling price of 21.91 pesos on Thursday at the Mexico City currency exchanges. Banks sold the dollar for a minimum of 20.71 pesos.

The euro rose 21 centavos to close at 23.18 pesos, while the pound and yen closed at 27.10 and 0.216 pesos, respectively.

Mexico’s Central Bank (Banxico) set the official exchange rate at 21.3661 pesos per dollar.

Intending to minimize the peso’s depreciation, Banxico made a discretionary intervention in the market early this morning with a sale of dollars. This resulted in an appreciation in the peso’s value of eight centavos, improving upon Wednesday’s historically low exchange price.

The Exchange Commission is likely to make further statements today.

The last time Banxico intervened in the market was February 2016.

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