Mexican peso closes the day with slight depreciation

During the afternoon of Monday, The Mexican peso registered a slight fall against the US dollar , depreciating by around 0.56%. The national currency opened the session at 18.56 pesos per dollar, reached a low of 18.55, a high of 18.68, and finally closed at the latter level, which also represented the highest point of the day.

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At the close of trading, the dollar averaged 18.68 pesos, a 0.62% increase compared to the previous day, when the exchange rate stood at 18.57 pesos.

Despite the recent rebound, The dollar accumulated a weekly drop of 0.76%. However, on an annual basis, the US currency continues to depreciate by 2.79% against the Mexican peso.

Market participants currently anticipate that the Fed could make two cuts to its benchmark interest rate before the end of the year. This expectation is based on the latest second-quarter GDP results and the PCE inflation index, key indicators for assessing the direction of monetary policy in the U.S.

Regarding volatility, the exchange rate fluctuated less last week than the year-over-year average of 11.92%, suggesting more stable and contained behavior in recent times.

Where to buy or sell the dollar?

It's recommended to visit places regulated by the authorities to avoid fraud. Also, keep in mind that the exchange rate varies depending on the bank or exchange office, and you should also check the commission they charge.

Banks: If you are a customer, you can purchase up to four thousand dollars.
Currency Exchange: The purchase limit is $1,500.
Online platforms.
ETFs (Exchange-Traded Funds).