When starting operations the price of the dollar today Monday it was up to 20.51 pesos in banks. Meanwhile, the interbank exchange rate stands at 20.02 pesos per dollar, with a gain of just 0.01 percent.
Citibanamex sells the dollar up to 20.51 pesos, while BBVA Mexico does it at 20.31, Banorte at 20.30 pesos and Azteca Bank in 20.04 units.
The peso was stable after local inflation data far exceeded the official target, reinforcing expectations that the central bank will raise its key interest rate in its monetary policy announcement this week.
How is the exchange rate going?
Base Bank explained in a report that the weight it ranks as the sixth most appreciated currency in the wide basket of main crosses, and this is due to two situations. The first, to a correction after losing ground last week, after the publication of the US employment data, and the second, to a greater probability that the Bank of Mexico your interest rate will rise, due to the high inflation of Mexico.
Inegi published that, during July, general inflation was at an annual rate of 5.81 percent, due to a monthly inflation of 0.59 percent. This was due to inflationary pressures both in the underlying component, which is core inflation and determines the trend of headline inflation, and in the non-core component, which includes products with higher volatility prices or determined by the government.
It should be noted that commodity prices they rose at a monthly rate of 0.58 percent and an annual rate of 5.74 percent, while services showed a monthly inflation of 0.36 percent and reached an annual rate of 3.46 percent.
Among the 10 products with the greatest increase in prices within the inflation underlying, the carnitas (2.95 percent), corn tortillas (2.39 percent), and vegetable oils and fats (2.29 percent) stand out.
This last component of oils and fats It is the one that shows the highest accumulated inflation so far this year with 17.97 percent, due to the increase in grains in the international financial markets.
In the service sector The increases in prices related to tourism and entertainment continue to stand out, with package tourism services showing the highest inflation (3.71 percent), followed by hotels (2.65 percent) and cinemas (1.52 percent).
In the energy products the largest monthly increase was observed in the price of domestic gas LP with 5.77 percent, being the component that accumulates the highest inflation in the year with 27.51 percent. For his part, natural domestic gas showed a monthly inflation of 1.50 percent, followed by an inflation of 0.31 percent in electricity. Meanwhile, high-octane gasoline prices showed an inflation of 0.24 percent and low-octane gasoline prices decreased 0.06 percent.
On the other hand, it is worth mentioning that oil continues its downward trend due to the third wave of covid-19 cases that threatens demand expectations. The WTI it reached a low of $ 65.15 per barrel, not seen since May 24, and is trading at $ 65.77 per barrel with a loss of 3.68 percent.
In United States, the yield on the 10-year Treasury bonds decreased by 2.4 basis points, to 1.27 percent, while in Mexico the yield on the 10-year M bonds increased by 0.7 basis points, at a rate of 7.05 percent.
Real time dollar
The euro It is sold at the window for a maximum of 24.06 pesos and is bought at 23.56 pesos. For its part, pound sterling It is offered at 28.15 pesos and is acquired at 27.79 pesos
The Bank of Mexico (Banxico) the previous session registered an exchange rate of 20.00 pesos per dollar.
With information from Reuters