The price of the dollar in Mexico began the day, this Tuesday, July 7, with a slight advance compared to the previous close, while the Mexican peso maintains a stable behavior after recovering ground during the session on Monday.

During the opening of this Tuesday, the US dollar was quoted at $17.48 Mexican pesos, which represents an increase of 0.5% compared to the close of the previous session, when it ended at $17.40 pesos, according to Dow Jones data.

Although the greenback started the day with gains, its longer-term performance continues to show a downward trend. In the last seven days it accumulates a decrease of 0.4%, while compared to the same period last year it registers a drop of 6.04% against the Mexican peso.

For its part, the peso managed to reverse the losses recorded at the beginning of the day on Monday, July 6. At the close of trading, the Mexican currency advanced 0.41% against the US dollar, reflecting a recovery after the pressures observed during the first hours of the day.

According to the Bank of Mexico (Banxico), the official closing corresponding to Monday, July 6, was established at $17.3874 pesos per dollar, a figure obtained from the average of the operations carried out between the country's banking institutions. However, because the exchange market remains active throughout the day, the exchange rate ended around $17.41 pesos per greenback.

Another indicator that continues to show stability is the volatility of the exchange market. It currently stands at 5.96%, a level lower than the historical reference of 7.56%.

Likewise, Banxico reported that the FIX exchange rate published in the Official Gazette of the Federation (DOF) for this Tuesday, July 7, was established at $17.4342 pesos per dollar. This value serves as an official reference for different contracts, financial operations and procedures in national territory, and is determined based on the average of the prices observed in the wholesale exchange market during banking business days.

Meanwhile, the exchange rate for the payment of obligations denominated in US dollars was set at $17.4758 pesos for each currency. This indicator is used when a debt was originally agreed in dollars and must be legally settled in Mexico.

Dollar exchange rate today in Mexican banks

The purchase and sale quotes for the dollar in the main banking institutions in Mexico for this Tuesday, July 7, are as follows:

When comparing this Tuesday's quotes, BBVA México and Banorte offer the lowest sales price, a favorable reference for those looking to buy dollars. In contrast, Scotiabank presents the best purchase price by paying $17.10 pesos for each greenback.

In banking institutions in Mexico and the northern border, the dollar registers an average price of $17.67 pesos for sale and $16.54 pesos for purchase. Meanwhile, in exchange houses located in border cities, such as those in Tamaulipas, the US currency maintains an average of $17.50 pesos for sale and $16.50 pesos for purchase.

Companies dedicated to international money transfers also manage their own exchange rates. This Tuesday, Western Union quotes the dollar at $17.83 Mexican pesos, while MoneyGram offers an exchange rate close to $17.89 pesos per dollar.

Remember that the price of the dollar may vary slightly depending on the branch, region and market conditions. It is advisable to check the exchange rate against the peso before making any international purchase or sending money to get the best deal available.

Economic context of the day

International financial markets began the day with losses, mainly due to pressure on the technology sector. At the same time, international oil prices rose, driven by increasing geopolitical tensions in the Middle East.

In this context, a barrel of Brent oil is trading at $73.48 dollars, while West Texas Intermediate (WTI) reaches a price of $70.47 dollars per barrel.

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