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Mexico City — After a few weeks of strong volatile movements, the Mexican Peso-US Dollar rate of exchange was below MXP$14/US$1 yesterday, mainly explained by investors confidence after the announcement made by the Central Bank of China of a 0.25 adjustment down in their reference interest rate.
The rate of exchange yesterday was MXP$13.94/US$1, compared to MXP$14.1247/US$1 the previous day, i.e. a 1.31% appreciation, equal to 18.47 cents gain, while in operations at bank windows the rate of exchange was MXP$14.07/US$1.
In the local market the rate of exchange for US Dollars was between $14 and $14.25 Mexican Pesos at banks. In bureaus de change the US Dollar was sold for MXP$13.90 or MXP$13.95, according to a survey made everyday by a local newspaper.