by JIMENA CAMPUZANO Y S. GARCÍA

Here’s how the dollar closed on May 21, 2024; find out the exchange rate at Mexican banks.

The Mexican peso and the Mexican Stock Exchange recorded the worst performance among their regional peers on Tuesday due to investor caution, with the dollar closing at 16.63 pesos per greenback. Check the exchange rates at Mexican banks below.

The session was marked by comments from U.S. central bank authorities, who suggested waiting several more months to ensure inflation returns to the 2% target before starting to reduce credit costs.

The domestic currency MXN= was trading at 16.6348 units near the end of business, depreciating by 0.49% from Monday’s Reuters reference price, after four consecutive days of gains.

“The dollar held steady, so we could say the peso’s behavior was driven by a market correction following an overbought move in the morning,” said Monex Grupo Financiero in an analysis note.

“Overnight, we expect the peso to fluctuate around a possible level of 16.64, considering the current peso trend and awaiting U.S. existing home sales figures tomorrow,” it added.

Analysts said the market was also waiting to learn local inflation figures for the first half of May and first-quarter GDP data, as well as the minutes from the Bank of Mexico.

The benchmark S&P/BMV IPC .MXX index fell 1.1% to 56,760.72 points, extending losses from the previous session.

Dollar Prices at Mexican Banks on May 21, 2024

– BBVA México: 15.78 pesos to buy, 16.93 pesos to sell
– Citibanamex: 16.13 pesos to buy, 17.05 pesos to sell
– Banco Azteca: 15.80 pesos to buy, 17.39 pesos to sell
– Banorte: 15.45 pesos to buy, 16.85 pesos to sell
– Banca Afirme: 15.70 pesos to buy, 17.10 pesos to sell
– Scotiabank: 15.10 pesos to buy, 18.00 pesos to sell
– Inbursa: 16.40 pesos to buy, 18.00 pesos to sell

Exchange rates as of 5:00 PM

Reference