Saturday 18 May 2013
Mexico.- The rate to exchange Mexican Pesos for US Dollars and Euros dropped 13 cents and 2 cents respectively, and were sold for MXP$13.86 and MXP$17.64 at banks in Mexico City. Upon closing the business day last Tuesday, the minimum rate to buy those currencies were MXP$13.29 for US$1 and MXP$17.16 for €1.
According to Monex, the measures expected to be announced by the Fed next Wednesday encouraged capitals to enter the Mexican debt market, which in turn caused an appreciation of Mexican Peso against the US Dollar.
Banco de Mexico (Banxico) set the rate of exchange to settle obligations in foreign currency payable in Mexico in MXP$13.7033.
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