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Daily Exchange: Dollar Closes at 19.84 Pesos as Banxico Raises Interest Rates

Mexico's Central Bank raised the interbank interest rate from 4.25 percent to 4.75 percent in an attempt to slow down inflation
By The News · 29 of September 2016 15:25:59
Dollar and peso bills, No available, photo: CAPITAL MEDIA/Alejandro Meza

The dollar gained seven centavos against the peso Thursday, closing at a selling price of 19.84 pesos in Mexico City currency markets. The dollar was purchased for a minimum of 18.66 pesos.

The euro gained seven centavos to close at 22.20 pesos, while the pound and yen closed at 25.61 pesos and 0.225 pesos, respectively.

Also on Thursday, Mexico’s Central Bank (Banxico) raised the interbank interest rate from 4.25 percent to 4.75 percent, which analysts from CI Banco said intends to relieve inflationary pressure on the peso.

Banxico set the official exchange rate at 19.4086 pesos per dollar.