Price of the dollar/peso exchange rate today Friday, December 18, 2020

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In the exchange rate, the Mexican peso remains at a good level, thanks to the greater risk appetite that favors the currencies of emerging countries. 

The price of the dollar today,  Friday, December 18, 2020, is quoted at $ 19.79 Mexican pesos. The Mexican peso continues to be favored – like other currencies of emerging countries – thanks to the increase in risk appetite that exists among investors. This positive sentiment is generated by increasingly real expectations that the US government will approve a huge fiscal stimulus package.

Likewise, the United States Federal Reserve (FED) has estimated that in 2020 the economy of that country will close with a drop in its Gross Domestic Product of 2.4 percent, while the projection for 2021 is to grow 4.2 percent, which that has generated an atmosphere of optimism among investors.

Tipo de cambio 18 de diciembre del 2020

This week it was announced that the National Council of Minimum Wages approved, without the support of the employer sector, a 15% increase to the minimum wage to $ 141.7 by 2021. This generated a clash between the Private Initiative and the Government of Mexico since The businessmen pointed out that such an increase will generate the closure of more than 700 thousand companies, in a year in which the pandemic and the lack of government support had already created a highly complicated scenario

According to industry analysts, during the next few hours, the Mexican peso is expected to move in the range of $ 19.70 and $ 20.00 units per dollar.

Dollar price in real time:

On the other hand, the Governing Board of Banco de México – in its last monetary policy meeting of the year – announced the decision to maintain the objective for the overnight Interbank Interest Rate at 4.25 percent. 

“The Governing Board will take the actions it deems necessary based on the additional information so that the reference rate is congruent with the orderly and sustained convergence of general inflation to the Banco de México target in the term of monetary policy operates. Furthermore, it is imperative to safeguard the institutional environment, strengthen macroeconomic fundamentals and adopt the necessary actions in the monetary and fiscal areas, to promote a better adjustment of the national financial markets and the economy as a whole “, quoted the Central Bank in a statement. 

Regarding the euro, today Friday, December 18, it is listed at $ 24.26 Mexican pesos, for $ 26.76 pesos of the British pound in general average. 

Source: mx.investing.com, banxico.org.mx

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