Mexico City. Today Friday May 29, 2020 the dollar listed on $ 22.17 pesos, according to the investing.com platform. The peso lost ground against the dollar, for the second time in the week, although at the global close of the 5 days it was a gain for the Mexican currency. According to Banco de México, the exchange rate in the spot interbank market ended today at $ 22.22 pesos per dollar. And the FIX ended at $ 22.20. Lea Trump announces US break with WHO and sanctions against China
During the opening, the foreign exchange market had good expectations for the national currency, but around noon the advance of the peso had a setback before the declarations of President Donald Trump, in which he announced the US rupture with the World Health Organization, and sanctions against China.
Exchange rate for sale in the interbank market (spot) today, Friday, May 29:
09.00 hrs .: 22.1170 p / d
13.30 hrs .: 22.2240 p / dhttps: //t.co/y9Qp78Eilr– Banco de México (@Banxico)
May 29, 2020
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This announcement generated concern among investors, who opted for safer assets in the face of increasing trade tensions in the US and the Asian country. Despite the fact that the peso closed the day with a loss, at the global closing of the week it was a recovery, with which two weeks of advance in the exchange rate were made.
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Trump’s argument to ‘break’ relations with the WHO is that during the coronavirus pandemic the body would have had ‘mismanagement’ and acted according to Chinese interests, a country that it has repeatedly blamed for the increase in cases. and deaths in the world.
In addition, the US president announced that there are strong sanctions against China, so that its trade relationship and its impact at the global level will continue to affect the currency markets in the following days.
Exchange rate: Real-time dollar price:
Dollar in banking institutions today May 29, 2020
Regarding the exchange rate in the different banks of mexico, The price of the dollar reaches its highest level for sale in the $ 23.50 in Banbajío, while the lowest to buy is in $ 21.00 at Banco Azteca, Banorte and Ixe.
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Regarding euro, it is quoted at $ 24.62 pesos, for $ 27.37 pesos from the pound sterling overall average.
Oil prices in real time:
According to AFP, US gasoline stocks declined, as analysts expected an increase, and stocks of crude stored in Cushing, Oklahoma, which is used as a benchmark for New York-listed WTI, also declined. For Bart Melek, of the consulting firm TD Securities, these data “reduce the risk that (Cushing) will run out of storage space”, and suggest that “there is demand for crude oil.”
On the other hand, during the day on Thursday it emerged that OPEC and OPEC + would be in negotiations to extend oil production cuts, with some initiative to decrease production during the rest of 2020.
With information from AFP
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