Everything you need to know about the price of the dollar today

The dollar today, Monday, February 8, 2021, is for purchase with 19.8182 and for sale at 20.3208 Mexican pesos. Compared to last week the dollar price 0.26 percent appreciated. 

Comparing the values in interannual terms, the dollar has been falling by 16.07 percent. In the last week the variation in the price of the dollar has been less than last year, by 17.76 percent. 

The rise of the dollar shows the strengthening of the dollar against the Mexican peso. All this in parallel to important information such as inflation and the monetary policy of the Bank of Mexico, relevant news for the country's economy. This happens as soon as the new fiscal support program of the United States is expected.

So why does the dollar go up or down?

The peso-dollar exchange rate is what allows us to understand the variation that exists between them. In Mexico, the exchange rate is free floating, which means that the market is the one that defines the price of the peso in the market. This modality has existed for more than 20 years in the country.

The peso trades 24 hours a day globally, meaning that the Mexican currency is being used throughout the world, changing all the time. By having global variations, the value of the Mexican peso against the dollar depends on national and international variations. 

Now for the price of the dollar in Mexico, it depends on the circulation of it in the Mexican market, if it has a good luxury, the price is reduced. If the circulation decreases, the price increases.

This variation in the price of the dollar affects businessmen, in relation to imports and exports of products and raw materials. An expensive dollar is bad for companies that import into Mexico because they have to pay more to bring the products into the country. But it benefits exporters because their profits increase when they change from dollar to peso.

Another factor that affects the dollar price It is when an investor decides to stop investing in the country, and takes it abroad. This has a greater influence on the variation of the dollar, causing liquidity to drop and the price to rise. 

What is important when making a dollar purchase because we need to travel is to know that there are several types of dollar price. The one that we must verify is the window, which is generally greater than the other values. See more news at our website!