After a week run over, this Thursday, February 6, the US dollar quoted at closing 20.49 pesosso that it meant a 0.5% decrease compared to 20.59 pesos of the previous day, with which the Mexican currency achieved a slight recovery in the context of the monetary political decision of the Bank of Mexico (Banxico).
The day of this day was influenced by the consumer confidence index in Mexico, published by the National Institute of Statistics and Geography (INEGI), In which it was indicated that the trust of Mexican consumers has fell since the beginning of this year, the first since December 2022.
In addition, Banxico announced near the closure of contributions that in order to reduce inflation in the country, the Board voted for a majority to reduce the interbank interest rate, to a level of 9.50%, which will enter into force as of this Friday 7 February. The goal is to take it to 3 percent, its historical average prior to the pandemic.
However, experts point out that tomorrow it could be a day of variations since non -agricultural payrolls in the United States will be published, which depending on the result, could benefit or affect international currencies.
The weight-dollar ratio during 2024 was marked by contrasts. The year began with the Mexican currency strengthened before the American currency. The green ticket was sold at 16 pesos per unit, something that did not happen in almost a decade. The “superpent” nickname was more than ever.
However, as progressing the weight was depreciated due, mainly, to political decisions, such as the controversial reform of the Judiciary and the elimination of autonomous organs.
The setback of the Aztec currency worsened with the campaign of Donald Trumphis electoral victory as president of the United States and his threats to put tariffs on all Mexican products – and Canadians – if Mexico did not improve border security.
It was so that the dollar returned at 20 pesos, leaving far from the forecasts of the Bank of Mexico (Banxico).
By 2025, Banxico He hopes that the dollar cite on an average that goes from 20.24 pesos and up to 20.69 pesos, a conservative forecast considering the repercussions that Trump’s sayings and policies in the White House would bring for the type of changes.
Inflation was relatively stable in 2024 around between 4%, except for June when it almost reaches 6, according to data from the National Institute of Statistics and Geography (INEGI).
In this year, Banxico forecasts that inflation will be below four points to 3.8%.
As for the growth of the Gross Domestic Product (GDP), the low forecasts are maintained. The Central Bank awaits a GDP rise of just 1.2%.
The Mexican peso is the legal tender of Mexico and it is the first currency in the world that used the $ sign, which was later resumed by the United States for the dollar.
This currency is the fifteenth coin most negotiated in the world, as well as the most negotiated in Latin America and the third at the continent level only behind the US dollar and the Canadian.
MXN abbreviation is currently used to talk about Mexican weight, but before 1993 the MXP acronym were used.
The coins that are normally used in Mexico have a semicircular form and have the national shield to the reverse. A Mexican weight equals 100 cents. There are coins of 1, 5, 10 and 20 pesos; while in tickets there are 20, 50, 100, 200, 500 and 1,000 pesos.
