The National Banking and Securities Commission (CNBV) published in the Official Gazette of the Federation (DOF) that Revolut Bank is the new bank that will operate in Mexico, making it the 51st participant in the country. Revolut de México, S.A. de C.V. (Revolut de México) requested authorization from this Commission to organize and operate as […]
Mexican Peso plummets as risk aversion and strong US Retail Sales boosts USD
On Monday, the Mexican Peso weakened against the US Dollar, influenced by robust economic figures from the US and a rise in US Treasury yields. March’s Retail Sales were impressive, supporting the US Dollar’s upward momentum and setting it on course to revisit the peak levels of November 2023, as reflected in the US Dollar […]
Mexico: These are the most expensive states to buy a house
In January, the real estate platform Lamudi shared a report on the panorama of home buying and renting in Mexico. This report includes two particularly striking sections for those looking for a place to live: the average sale price per square meter and the average monthly rent in different parts of the Mexican Republic. Which […]
Dollar Price Today April 12, 2024: Mexican Peso Falls Sharply
This week, investors received data on inflation and employment that showed signs of persistent pressure on prices and strength in the United States economy, affecting expectations for rate cuts this year. The Mexican peso falls sharply this Friday morning. The local currency retreats in the face of a strengthening dollar, which gains momentum from growing […]
Regular gasoline in Mexico is 50% more expensive than in the US
In Mexico, several taxes are paid, there is the Special Tax on Production and Services, the IEPS, and the Value Added Tax, which make the product more expensive. Regular gasoline in Mexico is currently 50% more expensive than in the United States, a reduction compared to the gap of more than 60% that existed at […]
Rumors of BANKRUPTCY at Banco Azteca cause PANIC; customers withdraw their savings
A fake news campaign at the end of 2023 caused Banco Azteca a 6 percent drop in customer deposits. At the end of 2023, a fake news campaign about the alleged bankruptcy of Banco Azteca caused panic among customers, leading them to withdraw their money and causing a 6 percent drop in deposits, said Alejandro […]
Economic Influx from Eclipse to Equal Half-Year Tourism Activity in Durango
The economic influx from the solar eclipse will be 500 million pesos The economic influx from the Total Solar Eclipse across the 10 municipalities of Durango will be 500 million pesos, practically half of what the state receives in a year from tourism activity. It is estimated that there will be more than 20,000 visitors […]
US Concerned About Mexico’s Stimulus Plan to Boost Nearshoring
Mexico issued a decree establishing national tax benefits for investment in certain exporting sectors In its 2024 Foreign Trade Barriers report, the White House Trade Representative expressed concern about the SHCP decree from last October, which proposes benefits for the relocation of companies across various industries. The United States government expressed concern about the export […]
The U.S. and Mexico will team up on an AI chip supply chain
The United States is joining forces with Mexico to strengthen the AI chip supply chain, with Mexico set to evaluate its semiconductor capabilities for future collaborative projects. Amidst the intensifying competition in AI chip production with China, the U.S. is seeking to enhance its manufacturing capabilities by partnering with Mexico. This initiative, announced by the […]
Canada, Sweden, and Germany Overtake the United States as the Largest Investors in Querétaro
Canada, Sweden, and Germany are the countries with the highest foreign direct investment (FDI) in Querétaro during 2023, dethroning the United States from the top ranks. Canadian investment amounted to $338.5 million, 30.6% of the total FDI received by the state in 2023 ($1,107.1 million), making it the origin of the most capital invested in […]