The Mexican peso has performed well in the last yearbut this Wednesday it managed to break the barrier of $19 units per dollar.
The market report indicates that a dollar costs $18.96 Mexican pesos wholesalethe measure that is taken as a basis for large transactions and that is essential in commercial exchange.
However, the price does not vary much with respect to small transactions, such as sending currency to Mexico.
According to Western Union, this Wednesday the shipment of a dollar to Mexico would be charged at $18.88 pesos.
The drop in the dollar in Mexico coincides with the Summit of North American Leaders that took place in Mexico City and allowed various economic agreements between the three countries.
It emphasizes that the governments of the president Joe Biden and his Mexican counterpart Andres Manuel Lopez Obrador They will add plans to boost the production of semiconductors or chips, with investments near the border.
Part of that breakthrough will occur with the Tax incentives from the Reduce Inflation Act and the CHIPS and Science Act approved last year in the US
The Mexican peso has had a robust performance, compared to other currencies worldwide, due to inflation that has even affected the US.
After two years of record outflows of foreign capital, Mexico’s economy recovered in 2022 with the return of investments.
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Source: La Opinion