dollar to peso exchange rate
The exchange rate is listed at 18.7398 pesos per dollar at the opening of this Wednesdaya gain of 0.52% against the dollar compared to the closing price on Tuesday, registered by the Bank of Mexico at 18.8390 pesos per dollar.
The peso positioned itself as the ninth emerging currency with the highest gains against the dollar. While the dollar weighted index fell due to the prospect of a slower pace of interest rate hikes in the United States, where the Fed will announce its monetary policy decision on Wednesday.
The Fed is expected to raise the rate by 25 basis points to a range between 4.50% and 4.75%, confirming a slowdown in the pace of increases.
“Along with the strengthening of the peso and most currencies, there is optimism in global financial markets,” Banco Base said.
During the session, the exchange rate is expected to trade between 18.72 and 18.90 pesos per dollar.