the Mexican currency It is one of the 10 most traded currencies in the global foreign exchange market, the most traded in Latin America and the third most traded on the entire continent. Its cost is of great importance at the national and regional levels, as the country is distinguished by being one of its main trading partners Canada and USA.
the Exchange rate It is the value of a currency expressed in another country’s currency. This transfer facilitates international business of goods and services, as well as the transfer of funds between countries. Canada and Mexico They maintain an important relationship as a result of the trade agreement TMEC. For these reasons, we share with you below what the exchange rate is between the Canadian Dollar and the Mexican Peso.
he Canadian dollar It is paid at the beginning of the day at an average of 13.1293 pesos. The value of the currency at market close yesterday was 13.1395 pesos.
According to information received from InvestmentThe annual range of this currency’s exchange rate is between 13.0669 – 14.8895 pesos, which represents a variation of 13.135 in the mentioned period.
Various factors determine the level of the exchange rate, monetary policies, inflation, trade balance and consumer expectations are some of the issues that affect the value of foreign exchange.
According to official statistics of the latest population census conducted in CanadaMexicans are the third largest population Latin America and the Caribbean It has the largest presence on its territory and is the first among the Spanish-speaking countries in the region. In 2021, a total of 132,220 people from Mexico were counted living in that country.
The Canadian government considered that 75.8 percent of this population are permanent residents who obtained Canadian citizenship by naturalization or who were born in Mexico With a Canadian father or mother. 24.2% were classified as non-permanent residents. This group includes Mexicans who have obtained a work visa or students who are on exchange.
According to Government of Mexico Financial remittances from Canada amounted to $216 million during the first quarter of this year, and in 2023 a total of $930 million was sent.
In the foreign exchange market, supply and demand for currencies will determine the value of the exchange rate. Public policies, as well as monetary policies, have a significant impact on currency fluctuations.
The Canadian dollar is the official monetary unit of the North American country and is represented by the abbreviation CAD in the currency market. This currency has been used for almost the entire history of the country.
Canada has historically distinguished itself as one of the United States’ major trading partners, and given the Mexico-United States-Canada Treaty (T-MEC) approved in 2020, it maintains a significant trading relationship with the national market.
According to the Organization for Economic Cooperation and Development (OECD), it confirmed that the North American country is heading towards a period of moderate growth after the “strong blow” represented by the Corona virus pandemic.
In 2021, the country was able to position itself as a major trading partner of the United States with a 14.5 percent share in the aforementioned market.
Specialists expect that the country’s financial situation this year will suffer less economic difficulties, based on the fact that inflation slowed last year and the country’s monetary policies were restrictive.
The country’s central bank has struggled in recent years to lower inflation rates since a record price increase in 2021. Canada’s economy was boosted last year by historic population growth.
Economists expect the country’s economy to get back on track in the second half of this year, if Canadians can endure the current situation the country is going through.
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