Mexico City. Today Monday May 25, 2020 the dollar listed on $ 22.58 pesos, according to the investing.com platform. The peso starts the week with a positive day, while the dollar remains at less than 23 pesos per unit. According to Banco de México, the exchange rate in the spot interbank market ended at $ 22.62 pesos per dollar. And the FIX ended at $ 22.56. Read Are you planning to start a business? Check these details before
The partial reopens in different regions of the world, after the closing of commercial activities by the coronavirus, generated that the peso had a stable weekend. This Monday, the US financial markets remain idle as a holiday, commemorating Memorial Day in the Wars.
Since last week, there has been speculation about a new cut in the Banxico interest rate, a rumor that lost effect when an increase in the inflation figure of the Inegi was known. As a consequence, the expectation is that the central bank will not make accelerated cuts. This provides more confidence in the local currency.
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Read Mexico’s Economy: JP Morgan Estimates 40% Drop in GDP
This day, several negative forecasts for the Mexican economy stand out. According to Reforma, Bank of America revised downward its estimate of Mexico’s GDP for this year and forecasts a 10 percent contraction from a previous 8 percent drop. In addition, he indicated that in the second quarter the country’s economy could contract 40 percent from a previous estimate of minus 34 percent. By 2021, BofA expects the Mexican economy to advance 2 percent, from a previous estimate of 4.5 percent.
JP Morgan, in turn, estimates that Mexican industrial production could drop 42 percent in the second quarter.
Exchange rate: Real-time dollar price:
Dollar in banking institutions today May 25, 2020
Regarding the exchange rate in the different banks of mexicoThe price of the dollar reaches its highest level for sale at $ 24.00 in Banbajío, while the lowest price for purchase is at $ 21.10 in Banregio.
Regarding euro, it is quoted at $ 24.57 pesos, for $ 27.48 pesos from the pound sterling overall average.
Oil prices in real time:
Inegi’s seasonally adjusted figures reveal that merchant exports plummeted 36.67% in April, including those related to the Mexican export oil mix.
Mexican oil reached a critical situation reflected in its April average price, which stood at $ 14.18 per barrel; This represents $ 14.78 less compared to March and $ 47.68 compared to the price of April last year.
With information from Reforma