of mexican currency It is one of the 10 most traded currencies on the international foreign exchange market, the most traded in Latin America, and the third most traded across the continent. Due to the character of this country being one of the main commercial partners, its costs are very important at the national and regional level. Canada and united states of america.
of exchange rate The value of a currency expressed relative to a country’s currency. This transformation facilitates international business of goods and services and the movement of funds between countries. Canada and Mexico They maintain important relationships as a result of trade agreements T-Mech. For these reasons, below we will share what the exchange rate is between Canadian Dollar and Mexican Peso.
he canadian dollar It was paid on average 13.1293 pesos earlier today. As of yesterday’s market close, the currency’s value was 13.1395 pesos.
According to information from investthe annual range of exchange rates for this currency is between 13.0669 – 14.8895 pesos, which represents a change of 13.135 pesos for the above period.
The various factors that determine the level of exchange rates, monetary policy, inflation, trade balance, consumer expectations, etc. are some of the issues that affect the value of foreign currencies.
According to official statistics from the last national census conducted in 2017, CanadaMexicans are the third largest population. Latin America and the Caribbean It has the largest presence in its territory and is the first among the Spanish-speaking countries in the region. In 2021, there were a total of 132,220 Mexicans living in Mexico.
The Canadian government considers 75.8 per cent of its population to have acquired Canadian citizenship through naturalization or to be permanent residents born in Canada. Mexico Have a Canadian father or mother. 24.2% were classified as non-permanent residents. This group includes Mexican nationals on work visas and exchange students.
According to mexican government Remittances from Canada totaled $216 million in the first quarter of this year, with a total of $930 million in 2023.
In the foreign exchange market, the demand and supply of currency determines the value of the exchange rate. Public policy, like monetary policy, also has a significant impact on currency fluctuations.
The Canadian dollar is the official monetary unit of the North American country and is represented in the currency market by the acronym CAD. This currency has been used throughout almost the entire history of this country.
Canada has historically been characterized as one of the United States’ major trading partners and maintains good commercial relations with its domestic market, given the Mexico-United States-Canada Treaty (T-MEC) ratified in 2020.
The Organization for Economic Co-operation and Development (OECD) has confirmed that North American countries are heading toward a period of moderate growth after a “strong blow” typified by the coronavirus pandemic.
In 2021, the country was able to capture a 14.5 percent share of the market and establish itself as a major trading partner of the United States.
Experts predict that the country’s fiscal situation will experience fewer economic difficulties this year, based on the fact that inflation slowed last year and the country’s monetary policy was restrained.
The Bank of Canada has struggled to reduce inflation in recent years, since rising prices were recorded in 2021. Last year, Canada’s economy was boosted by historic population growth.
Economists predict that the country’s economy will be back on track in the second half of this year if Canadians can manage to endure the current situation facing the country.
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