The Mexican peso rose on Monday in a cautious market benefiting from a wave of risk appetite after the UK government said it would reverse a controversial tax cut that had roiled British markets and dragged down global investors.
dollar to peso exchange rate
The exchange rate today, October 3, was quoted at 20.0096 pesos per dollar, with an advance of 0.58% compared to the closing price of Friday registered by the Bank of Mexico, when the exchange rate was 20.1271 pesos per dollar.
"Economic downturn concerns continue to dominate market sentiment against a backdrop of upside geopolitical risk due to Moscow's annexation of Ukrainian territories," CI Bank said in a research note.
Locally, participants' eyes were on the later release of the central bank's private sector economic expectations survey, seeking an update on projections for local inflation and interest rates.
For the rest of the day, the Mexican peso is expected to oscillate in a range of 19.98 to 20.12 per dollar, according to analysts at Banco Base.
