The dollar begins this Tuesday with moderate movements against the Mexican peso, on a day in which the US currency maintains a negative trend. For those who live in Mexico it is excellent news if they want to buy or make transactions in dollars; However, those who send remittances to their relatives should know that their loved ones will receive less money in pesos than they received a year ago.

At the opening of the day, the US dollar was quoted on average at $17.12 Mexican pesos, which represented a decrease of 0.13% compared to the $17.14 pesos at the previous close, according to Dow Jones data.

Recent behavior also reflects downward pressure on the dollar. During the last week, the US currency accumulated a decrease of 0.82%, while compared to a year ago it registered a decrease of 8.15%.

For its part, the peso ended Monday with a marginal decline of 0.10% against the dollar. With this movement, the Mexican currency ended a streak of five consecutive sessions of gains.

The volatility of the foreign exchange market is currently at 3.33%, a level considerably lower than the 7.45% used as a reference. This difference reflects a period of relatively contained movements in the exchange rate, although quotes may change during the day as operations progress.

The Bank of Mexico (Banxico) reported that the official closing of the dollar on Monday, August 10, was $17.1414 pesos per US currency. Because the dollar is quoted throughout the day in the exchange market, the exchange rate closed around $17.14 pesos for each green currency.

The FIX exchange rate published in the Official Gazette of the Federation (DOF), determined by Banxico, was established at $17.1408 pesos per dollar for this Tuesday, August 11. Meanwhile, the exchange rate established for the payment of obligations denominated in US dollars remained at $17.1387 pesos for each green currency.

Dollar exchange rate today in Mexican banks

The purchase and sale quotes for the dollar in some of the main banks in Mexico for this Tuesday are:

Among these institutions, Banorte offers the lowest sales price, with $17.45 pesos, which favors those who need to buy dollars. On the buy side, Banco Azteca offers $16.80 pesos, making it the highest price among the banks on this list for those looking to sell their dollars.

In banking institutions in Mexico and the northern border, the dollar is sold on average for $17.42 pesos, while it is purchased for around $16.29 pesos. In the exchange offices of Mexico and on the Tamaulipas border, the US currency registers an average price of $17.50 pesos for sale and $16.50 pesos for purchase.

For those who send dollars from the United States to Mexico, international transfer companies show different quotes than those observed in banks and exchange houses. This Tuesday, Western Union offers an exchange rate of $16.79 Mexican pesos per dollar. For its part, MoneyGram manages a quote of $17.59 Mexican pesos for every $1 dollar, while with Wise the person who receives the money in Mexico gets around $16.99 Mexican pesos for every dollar sent from the United States.

The price of the dollar can change several times during the same day, so people who need to buy currency, sell dollars or send money to Mexico should check the available price just before carrying out the operation. A difference of a few cents can change the final amount received, especially when large amounts are involved.

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