Price of the dollar today in Mexico: what is the exchange rate at this Tuesday, August 22?

The price of dollar in Mexico trades higher in the early hours of Tuesday, amid market concerns about the health of the Chinese economy despite the latest stimulus measures, while attention focused on a speech by the president of the Federal Reserve of the United States at the end of this week.

The exchange rate is listed at 17,020 pesos per dollar, according to data from the Bloomberg agency.

After stating that the Mexican economy grew 3.6% in the first half of the year, the Bank of America Securities (BofA Securities) pointed out that the country is going through a good moment and that it improved its expectations towards the end of 2023 and 2024.

According to the financial institution, the behavior of the Economy of mexico was driven by the good results of USA throughout these six months, through trade between the two nations and remittances.

dollar globally

Most of Latin America’s currencies posted losses at close of business the previous day as markets remained concerned about the health of the Chinese economy despite the latest stimulus measures, while attention focused on a speech by the president of the Federal Reserve of the United States at the end of this week.

China cut its benchmark one-year interest rate on Monday, as expected, in an attempt by authorities to redouble its efforts to stimulate demand for credit, but surprised markets by keeping the five-year rate unchanged.

The recovery of the world’s second largest economy has faltered due to a worsening housing crisis, weak consumer spending and falling credit growth, justifying further monetary stimulus.

Traders said that this week the markets will be expecting a long-awaited speech from the Fed chairman, Jerome Powell, as part of the start of the symposium of the entity that will take place from Friday in Jackson Hole.