The price of the dollar against the peso varies every day. (Shutterstock)
He US dollar had a decrease of 0.27% after ending quotes at 20.46 pesosa change of almost 10 cents, compared to the previous session in which it closed at 20.51 pesos. In the last week, the US dollar accumulates an increase of 3.28 percent.
In relation to previous days, it chained two consecutive sessions falling. In reference to the volatility of the last week, it is clearly higher than the data obtained for the last year (12.72%), so it presents greater variations than the general trend of the value.
Ilan Goldfajnpresident of Inter-American Development Bank (IDB)has highlighted the need to join forces to confront crime in Latin America and the Caribbeana region that in 2022 recorded a rate of 20 homicides per 100 thousand inhabitantsaccording to a study by International Monetary Fund (IMF) and the IDB. This figure triples the global homicide rate, according to data from the United Nations Office on Drugs and Crime (UNODC).
It reveals that over the past two decades, the region has consistently maintained a higher homicide rate than other parts of the world. This phenomenon not only affects the security of communities, but also has significant economic repercussions, limiting economic growth, generating inequality and diverting both private and public investment, according to the IDB.
The impact of increased violence is particularly notable in Central and South Americawhere growing insecurity is anticipated to negatively impact tourism, a key sector for many local economies. The perception of insecurity may deter tourists from visiting these destinations, which in turn could have a ripple effect on local economies.
The IDB and IMF emphasize the importance of addressing this problem comprehensively, suggesting that closer collaboration is required between countries in the region to implement effective policies that reduce violence and promote sustainable development.
The Bank of Mexico establishes the conditions under which damaged banknotes retain their value, including damage such as scratches or wear, ensuring confidence in the national currency. (Freepik)
The Mexican economy has registered a series of contrasts, which will continue, according to the forecasts of the Bank of Mexico (Banxico) for this 2024.
Regarding the exchange rate, the central bank expects the dollar to sell throughout the year between 17.68 pesos and up to 18.67 pesos per unit. A conservative forecast considering that the national currency destroyed the 2023 forecasts, breaking the floor of 17 pesos per unit, which has not been seen for eight years.
For its part, inflation is expected to continue its downward trend, since reaching its historical maximum of 8.7% at the end of 2022. Banxico forecasts a inflation of 4.02% in 2024However, the ideal of three percentage points is not expected to be reached soon.
The above, however, contrasts with the economic growth forecasts, since the central bank expects it to be 2.29% in 2024.
The Mexican peso is the fifteenth most traded currency in the world. (Banxico)
The Mexican peso is the legal tender of Mexico and is the first currency in the world used by the $ signwhich was later taken up by the United States for the dollar.
This currency is the fifteenth most traded currency in the world, as well as the most traded in Latin America and the third on the continent only behind the US and Canadian dollars.
Currently the abbreviation MXN is used to talk about the Mexican peso, but before 1993 the acronym MXP was used.
The coins normally used in Mexico are semicircular in shape and have the national coat of arms on the reverse. One Mexican peso is equivalent to 100 cents. There are coins of 1, 5, 10 and 20 pesos; while in bills there are 20, 50, 100, 200, 500 and 1,000 pesos.
