If you want to do any financial operation, we share with you how much the US dollar is quoted. This Wednesday, February 1, the US currency is offered at 18.79, according to information published in the Official Gazette of the Federation (DOF). Next, we share everything you need to know if you are looking to make a financial operation that is related to this currency.
Price of the dollar buy and sell – February 1
- affirm – Buy: 17.80 mexican pesos Sale: 19.20 mexican pesos
- Azteca Bank – Buy: 18.00 Mexican pesos Sale: 18.89 mexican pesos
- Base Bank – Buy and sell: 19.81 Mexican pesos
- Banorte – Buy: 17.70 mexican pesos Sale: 19.10 Mexican pesos
- BBVA – Buy: 18.11 Mexican pesos Sale: 19.01 Mexican pesos
- Citibanamex – Buy: 18.12 Mexican pesos Sale: 19.24 Mexican pesos
- Scotiabank – Buy: 17.00 Mexican pesos Sale: 19.90 mexican pesos
How is the price of the dollar defined?
The exchange rate of each country is determined by the exchange regime, that is, it is the way in which it decides to manage the value of its currency with respect to others.
It may interest you: When was the last time the dollar was less than $19?
According to information published by Banco de México, the best-known exchange regimes are the fixed, flexible, and exchange rate bands. Next, we explain each of them:
- Fixed: In this system, the monetary authority establishes a level of the exchange rate, and undertakes, by intervening in the market by buying or selling currencies, to guarantee that this exchange rate remains at that level.
- Flexible or floating: The currency price is determined by market supply and demand, without the intervention of the monetary authority.
- Exchange bands: An intermediate scheme between a fixed and a flexible exchange rate regime. The monetary authority sets a band in which it allows the exchange rate to move freely. When the exchange rate reaches the ceiling or floor of the band, the authority intervenes by selling or buying foreign currency to keep it within the band.
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