Tuesday , August 3 2021

Peso wins land due to rising crude oil prices

The Mexican Peso closed today with a favorable movement -0.48% in the exchange rate. on the dollar is traded on 20,2702 units, which means recovering 0.12 cents from the dollar into parity. The Bank of Mexico fixed the Fixed Interbank Transaction Rate in 2006. 20.2320,

The session of the foreign exchange market was influenced by the improvement in international oil prices. The futures of the US mix of West Texas Intermediate for delivery in January 2019 rose 1.80%, to be located in $ 54.45 per barrel.

At the same time, the futures of the Brent mix, European reference, for delivery by 2019, registered a movement from 1.26%. The barrel price has reached $ 63.32.

US President Donald Trump's government has begun to reduce oil prices by increasing its reserves. The surplus of supply is his response to Saudi Arabia's oil-exporting Organization (OPEC), which threatens to cut oil prices by cutting production.

Yesterday, stock markets in New York were influenced by low oil prices as well as the negative performance of technology companies and retailers. This has led to the fact that since the opening of the dollar, the dollar has risen lower on the international market.

Today, the dollar index futures, which measure the strength of the US currency against a basket of six currencies, fell 0.13 percent. The euro has recovered 0.13% of its value against the dollar. Referred to 1.1384.

OPEC members will meet on December 6 to develop a production quota strategy.

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