Dollar Tries to Return to 17 Pesos in Mexico and Also Rises in Colombia

The dollar began Tuesday, August 25, with a slight recovery in Mexico and Colombia after the declines recorded in recent days.

In Mexico, it is once again trying to approach the 17-peso mark, while in Colombia it is also gaining ground. In the Dominican Republic, however, prices remain practically unchanged.

Why it matters: A more expensive dollar can slightly reduce how much remittances are worth when exchanged into local currency, while also making it more expensive to buy dollars for travel, payments and purchases in the United States.

Dollar Exchange Rate Today in Mexico, Colombia and the Dominican Republic on August 25

Dollar in Mexico

According to Banxico, the dollar stands at 16.9647 Mexican pesos this Tuesday, recovering slightly and trying to return to the 17-peso level.

In the foreign exchange market, rates are:

• Buy: $16.65
• Sell: $17.21

At Banco Azteca, one of the main reference points for many families exchanging dollars and receiving remittances, the rate is $16.55 for buying and $17.74 for selling.

Colombia: Dollar Also Regains Ground

In Colombia, the dollar is also posting a small increase. According to Banco de la República, the U.S. currency stands at 3,065.299 Colombian pesos this Tuesday.

In Bogotá’s foreign exchange market, rates are:

• Buy: $3,200
• Sell: $3,220

The increase marks a slight change in direction after the sharp declines the dollar had recorded over the past few days.

Dominican Republic: Dollar Exchange Rate Remains Stable

No significant changes were recorded in the Dominican Republic this Tuesday.

• According to the Central Bank, the dollar stands at 58.01 Dominican pesos for buying and 58.34 for selling.

The stability means that people receiving remittances or needing to buy dollars are seeing prices this Tuesday that are similar to those recorded recently.

The performance of Mexico and Colombia will be key over the coming days in determining whether this small rebound in the dollar exchange rate today can hold or whether the U.S. currency loses ground again against both currencies.