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.

The US currency closed lower on Monday in Chile after two sessions of sharp gains. The exchange rate reached $916.50 amid anticipation for the US inflation data.

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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.

The official dollar quoted at $1,420 for selling on Friday April 24, marking an increase from the previous week. The blue dollar also closed at $1,420, up $10. Financial dollars showed similar rises on a day of high trading volume.

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