After the United States Federal Reserve (Fed) report on interest rates, the dollar price increased, which has impacted various currencies, including the mexican peso. At the close of trading on December 18, the peso was quoted at 20.36 per dollar, registering an increase of 0.91% compared to the value of 20.18 pesos from the previous session.
It is important to highlight that, regarding the profitability of the last week, The US dollar has risen 0.69%, which means that, year-on-year, it has accumulated an increase of 20.02%.
READ: The Mexican Stock Market loses, dragged down by sharp falls in the US markets
As for the Federal Reserve, this Wednesday it made the expected announcement to reduce its reference interest rate for the third consecutive time. However, officials have taken a more cautious approach, limiting the number of cuts planned for 2025, as reflected in new quarterly projections. This stance shows greater caution regarding how quickly borrowing costs could continue to be reduced.
The Federal Open Market Committee approved by a vote of 11 to 1 the reduction of the federal funds rate to a range of 4.25%-4.5%. Cleveland Fed President Beth Hammack was the only one to vote against, preferring to keep rates stable. This decision highlights internal differences over the course of monetary policy in the near future.
Where to buy or sell the dollar?
It is recommended to attend places that are regulated by the authorities to avoid fraud. Additionally, you should take into account that the exchange rate varies according to each bank or exchange house, as well as see the commission they charge.
- Banks: If you are a customer you can buy up to four thousand dollars.
- Exchange houses: The purchase limit is 1,500 dollars.
- Online platforms.
- ETFs (Exchange-Traded Funds or Exchange-Traded Funds).
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