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Daily Exchange: Dollar Closes at 20.20 pesos

Grupo Financiero Ve Por Más (BX+) told a Mexican news agency that the recent volatility in exchange rates is related to the U.S. presidential election
By The News · 23 of September 2016 15:10:45
The dollar was sold at 20.20 pesos at Mexico City currency exchanges on Friday, Sept. 23, 60608060. México, 8 Jun (Notimex- Sabine García).- El Banco de México (Banxico) invitó a la población a “activar” las monedas y ponerlas en circulación a fin de aprovechar al máximo el dinero, para lo cual recomendó usarlas o cambiarlas gratuitamente en las casi ocho mil sucursales bancarias del país. NOTIMEX/FOTO/SABINE GARCÍA/COR/EBF/, photo: Capital Media/Alejandro Meza

The dollar declined 14 centavos to close at a selling price 20.20 pesos at Mexico City currency exchanges on Friday. Banks purchased the dollar for a maximum of 19.01 pesos.

The euro gained 21 centavos to close at 22.42 pesos, while the pound and yen closed at 26.05 pesos and 0.229 pesos, respectively.

Grupo Financiero Ve Por Más (BX+) told a Mexican news agency that the recent volatility in exchange rates is related to the U.S. presidential election, and that an interest rate increase by the U.S. fed would not reduce uncertainty because of fears that such an increase could be temporary.

Mexico’s central bank (Banxico) set the official exchange rate at 19.7211 pesos per dollar.