1/ The exchange rate (FIX) is determined by Banco de Mexico as an average
of quotes in the wholesale foreign exchange market for operations payable
in 48 hours. It is published in the Official Gazette (Diario Oficial de
la Federación) one banking business day after its determination date,
and is used to settle liabilities denominated in foreign currency payable
in Mexico on the next day. To obtain more information regarding this exchange
rate see the Official Gazette of March 22, 1996 and
the provisions issued by Banco de Mexico in document 2019/95.
2/ The historic exchange rate series is constructed as follows. From January
1960 to August of 1976 it corresponds to the 'Tipo de Cambio Controlado'. From[
September 1976 to June 1977 it registers the 'Tipo de Cambio para Operaciones
en Billete en el Mercado'. From July 1977 to the same month of 1982 it
consists of the 'Tipo de Cambio para Operaciones en Documento'. During August
1982 it corresponds to the 'Tipo de Cambio Único (mex-dólar)'. For the period
from September to November1982 it consists of 'Tipo de Cambio Único Ordinario'.
From December 1982 to July 1985 it corresponds to the 'Tipo de Cambio en el
Mercado Controlado'. From August 1985 to October 1991 it corresponds to the
'Tipo de Cambio de Flotación Controlada (equilibrio)'. From November 1991
onward it comprises the 'Tipo de Cambio para Solventar Obligaciones Pagaderas
en Moneda Extranjera dentro de la República Mexicana'.
3/ Representative exchange rate of wholesale operations between banks,
stockbrokerage firms, foreign exchange dealers and other major financial
and non financial firms.
4/ This exchange rate is used to convert stocks in foreign currency from
the balance of Banco de México. From January 1992 to December 1995 it's
composed of the exchange rate used to settle liabilities denominated in
foreign currency payable in Mexico. From January 1996 onward
the 'FIX' exchange rate is used.
5/ In accordance to the regulation issued by the Comisión Nacional
Bancaria y de Valores, in its circular letter 1448, the following
exchange rate will be used to convert stocks in foreign currency of
commercial and development banks. This data series is composed by
the exchange rate to settle liabilities denominated in foreign currency
payable in Mexico in its settlement date from January 1976 to May 1997,
from June 1997 to December 1997 the FIX exchange rate is used. From
January 1998 to December 1998 the exchange rate used to settle liabilities
denominated in foreign currency payable in Mexico in its settlement date
is used. And from January 2000 onward the FIX exchange is considered.
Source: Banco de México.