This Thursday, October 27, the average dollar exchange rate in Mexico is 20.00 pesos. For purchase it is located at 19.99 pesos and for sale at 20.01.
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The dollar closed the day this Wednesday, October 26, 2022, at 20.48 pesos for sale in banks in Mexico City, such as Citibanamex, while buying at a price of 19.37 pesos.
The weight fell on Wednesday after hitting its best price since mid-September, while the Mexican Stock Exchange (BMV) advanced for the fifth consecutive day to levels not seen in more than four months.
The session was marked by news of a lower-than-expected Bank of Canada interest rate hike, bolstering hopes that major central banks will moderate their aggressive rate hikes.
The Mexican currency was trading at 19.9371 per dollar, with a depreciation of 0.36% against the Reuters reference price on Tuesday, after having approached 19.80 units in the morning, a technical level considered key for the short-term negotiations of the currency.
“Forward, the movement is expected to extend (…) close to the 200-day average at 20.14,” the Vector Analysis firm said in a report. “Although it doesn’t seem most likely, if it breaks at 19.80, it has a next floor at 19.75-19.70,” he added.
The benchmark S&P/BMV IPC stock index rose 1.41% to 49,327.11 points, its best closing level since June 8, in a market with an eye on the progress of the third-quarter earnings season, which ends on Friday .
The titles of the mining company Grupo México led the increases, with a jump of 10.88% more to 71.65 pesos, due to a strengthening of the price of copper, its main product, and in the prelude to its quarterly report.
In the debt market, the yield on the 10-year bond fell eight basis points to 9.78%, the same as the 20-year rate that ended at 9.91%.
With information from Reuters