Despite the variations in the price of the dollar against the peso that arise during the day, the price of the greenback at the beginning of the day on Thursday, July 16, remained unchanged, compared to the previous day.

At the opening this Thursday, the US dollar is trading at $17.42 Mexican pesos, which represents an increase of 0.2% compared to the previous close of $17.39 pesos, according to information from Dow Jones.

Despite this daily advance, the performance of the dollar continues to show losses in broader periods. During the last week, the US currency accumulated a decrease of 0.72%, while compared to the same period last year it registered a drop of 7.05% against the Mexican peso.

The previous day left positive results for the Mexican currency. The peso gained 0.23% against the dollar after the publication of data on producer prices in the United States caused a general decline in the US currency in international markets. However, the dollar began this Thursday with a slight recovery and added a consecutive day of increases in its price.

The Bank of Mexico (Banxico) reported that the official closing on Wednesday, July 15, was $17.3853 pesos per dollar, a figure that corresponds to the average of banking operations carried out during the day. However, because the exchange rate continues to move throughout the day in the financial markets, the price of the dollar against the peso ended the session around $17.39 pesos per greenback.

The current volatility of the exchange rate is located at 5.17%, a level lower than the reference volatility of 7.56%. What does this mean? That the recent variations in the price of the dollar have been lower than those usually observed, which reflects a relatively stable exchange market with more moderate movements.

Likewise, Banxico reported that the FIX exchange rate, published in the Official Gazette of the Federation (DOF), was established at $17.3910 pesos per dollar for this Thursday, July 16. This exchange rate serves as a reference for various contracts, financial operations and official procedures, and is published at noon on the previous business day.

The FIX exchange rate is a value calculated by Banxico based on the average of the quotes observed in the wholesale exchange market, where banks and financial institutions carry out purchase and sale operations of large volumes of dollars.

On the other hand, the exchange rate for the payment of obligations denominated in US dollars was set at $17.4278 pesos per green currency. This value is used when a person or company in Mexico must settle a debt agreed in dollars and legislation allows payment in national currency.

Dollar exchange rate today in Mexican banks

The purchase and sale quotes for dollars in some of the main banks in Mexico for this Thursday are as follows:

When reviewing bank quotes, Banorte offers the lowest sale price of the day, which may be convenient for those who need to buy dollars. In contrast, Scotiabank presents the best purchase price, an advantage for people who want to sell their dollars and receive a greater amount of pesos.

In companies dedicated to sending international money there are also differences in the exchange rate. This Thursday, Western Union quotes the dollar at $17.72 Mexican pesos, while MoneyGram offers an exchange rate close to $17.90 pesos for each green bill.

The price of the dollar changes constantly during the course of the day. Before buying or selling currencies, making an international payment or sending money, it is advisable to check the latest quote to find the option that best suits your needs.

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