In the exchange rate against the dollar, the Mexican peso improved, after the North American currency registered a fall, waiting for the government of that country to inject more stimuli for the economy.
Mexico City. Today, Tuesday, July 28, 2020, the dollar is trading at $ 22.05 Mexican pesos, according to the investing.com platform. Yesterday Monday the dollar fell, waiting for more stimuli for the United States economy against the Covid-19. Markets were leaning towards the possibility of new schemes of fiscal and monetary support for the United States economy.
For Banco Base analysts, the movements in the financial markets indicate that it is anticipating more expansionary economic policies in the U.S. since, in addition to the weakening of the dollar, gold won and the stock markets increased.
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The movement of these assets in the same direction is a strong signal that investors are anticipating an accommodative monetary stance on the part of the Federal Reserve (Fed), so their monetary policy announcement next Wednesday will be highly relevant.
In the afternoon, Republican Senators announced a trillion-dollar coronavirus aid package developed with the White House. Chuck Schumer, Democratic leader of the Senate, commented that the Republican plan is too limited.
And there are more signs that the pandemic is not under control, as the increase in cases in China and Spain shows that there are difficulties in containing Covid-19, he told Bloomberg.
In Mexico, the Inegi disclosed that exports increased 75.57 percent last June, a record increase after four months with reductions, combined with unprecedented growth in imports of 22.24 percent.
Regarding the exchange rate in different banks in Mexico, the price of the dollar reaches its highest level for sale at $ 23.50 in Banbajio, while the lowest price for the purchase is at $ 20.80 in Banco Azteca.