dollar data shown for 2005 and before are official exchange rates. dollar, and by end of year 2005, the unofficial exchange rate was 1,075 kyat/U.S. The monthly indicator for economic activity (IGAE) rose 0.4% month-on-month in seasonally-adjusted terms in July (June: -0.3% mom), slightly above market expectations. Unofficial exchange rates ranged in 2004 from 815 kyat/U.S. Mexico: Economic activity rebounds in July in month-on-month terms.Merchandise exports jumped 25.2% year-on-year in August, following July’s 13.6% upturn. Mexico: Merchandise exports gain steam in August.On 29 September, the Governing Board of the Bank of Mexico (Banxico) opted to raise the target for the overnight interbank interest rate by 75 basis points to 9.25%, marking the third consecutive 75 basis-point hike. Mexico: Banxico hikes by 75 basis points in September.The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 in September from August's 49.5. Mexico: Manufacturing PMI picks up in September non-manufacturing PMI loses steam.Our panel sees the MXN ending 2021 at 21.93 per USD and 2022 at 21.36 per USD. Moreover, given its highly liquid and traded nature, the MXN remains vulnerable to sharp swings in market sentiment. And although it may strengthen further following the final election results, gains could prove to be short-lived as the economy’s recovery from the Covid-19 blow is showing signs of losing momentum, despite the solid quarterly rebound in GDP in Q3. In addition, the likely Biden presidency supported the Mexican currency, which has been pressured by the Trump administration’s hard line stance on trade, on expectations of a less adversarial trade policy going forward.ĭespite these gains, the peso is still markedly down from February’s pre-pandemic levels. This would force the Federal Reserve to keep rates low for longer, boosting interest for higher-yield markets in turn. That said, the currency was down 7.0% year-on-year, while it has lost 8.0% of its value year-to-date.Įmerging-market currencies in general benefited from strengthening expectations that Joe Biden would eke out a victory in the U.S presidential race as well as from the prospect of Republicans retaining control of the Senate, thus pointing to largely static U.S. 1.4432 USD/NOK 10.8706 USD/MXN 20.2378 USD/INR 81.9413 USD/RUB 58.0451 USD/ZAR 18.0375 USD/TRY 18.5861 USD/BRL 5.3834 Bitcoin 19310.48 USD/GBP 0.927600 USD/EUR 1.0373 EUR/GBP 0.894230 USD/JPY 144.75 USD/AUD 1.5520 USD/CAD 1.3735 USD/CHF 0.983900 USD/CNY 7.2112 USD/HKD 7.8477 USD/NZD 1.7680 USD/SEK 11. On 6 November, the peso ended the day at 20.59 per USD, marking a 5.6% appreciation month-on-month. presidential election that saw Democratic contender Joe Biden move closer to victory. dollar over the past month, particularly rallying during the week of the U.S. The Mexican peso posted strong gains against the U.S. To calculate the percentage discrepancy, take the difference between the two exchange rates, and. Mexico - Exchange Rate Peso rallies on likely Joe Biden victory in U.S. The difference between the market exchange rate and the exchange rate they charge is their profit.
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