Mexican peso depreciates 1.1% against dollar after US jobs report

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The Mexican peso closed on Friday, June 5, at 17.4793 units per dollar, down 1.11%. The depreciation was attributed to a stronger dollar following better-than-expected US jobs data.

According to Banco de México data, the currency lost 19.12 cents from the previous close and posted a weekly decline of 0.80%.Gabriela Siller, director of economic analysis at Banco Base, said the depreciation stemmed from a stronger dollar after the release of the May US employment report.At Banamex bank windows the dollar sold for 17.90 pesos. The dollar index rose 0.69% to 100.10 points.

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Illustration depicting the Federal Reserve holding interest rates steady while signaling a possible hike amid inflation.
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Fed holds rates steady but signals possible hike amid inflation

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The US Federal Reserve decided to keep its benchmark interest rate unchanged in the 3.50 to 3.75 percent range during its first decision under President Kevin Warsh.

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Mexican peso closes slightly lower against the dollar

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