Mexican peso depreciates 1.1% against dollar after US jobs report

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 of rising dollar exchange rate to 1460 with financial charts and currency notes.
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Official dollar closed the week higher and reached $1,460

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The official retail dollar closed at $1,460 on Friday, June 5, while the wholesale exchange rate rose $3.50 to $1,440.

The exchange rate closed on May 12 at 17.2228 pesos per dollar, marking a 0.14 percent depreciation.

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The Mexican peso ended May 21 with a modest depreciation, shaped by Banxico meeting minutes and Middle East developments.

Between May 1 and 15, the Colombian peso recorded a 3.84% depreciation, the largest among 22 emerging currencies. The dollar reached 3,796.78 pesos, driven by purchases from the Finance Ministry and electoral uncertainty.

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The Mexican peso faces pressure after failed US-Iran talks and President Trump's April 12 announcement closing the Strait of Hormuz, reversing last week's gains from the truce. Analysts expect dollar strength, higher oil, and stock declines when markets open Monday, April 13.

Wall Street markets closed higher on Thursday April 16, boosted by optimism over an Israel-Lebanon agreement ending the Middle East war, while Mexico's Bolsa Mexicana de Valores (BMV) fell 0.78%. The BMV's main IPC index settled at 69,095.02 points. The Mexican peso appreciated 0.05% against the dollar.

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