The Mexican peso strengthens against the dollar on September 5.
The Mexican peso opened the day on Friday, September 5, with an increase against the US dollar. The exchange rate stands at $18.62 per peso, representing a 0.58% gain compared to Thursday's close.
The trend is explained by a decline in the dollar on international markets. The Dollar Index reported a 0.66% drop following weak data from the US labor market. The nonfarm payrolls report showed lower-than-expected growth and an unemployment rate that rose to 4.3%, its highest level since 2021.
Monex analysts emphasized that this situation increases expectations of future interest rate cuts by the Federal Reserve (Fed), reinforcing the attractiveness of emerging currencies like the Mexican peso.
Along the same lines, Bloomberg reported that the 16 major emerging market currencies opened the session with gains against the dollar.
The country's financial institutions offer the following buy and sell quotes for the dollar against the Mexican peso:
- Affirm: Buy $17.90, Sell $19.30
- Banco Azteca: buy $17.50, sell $19.14
- BBVA Bancomer: buy $17.85, sell $18.98
- Banorte: buy $17.50, sell $19.05
- Citibanamex: buy $18.16, sell $19.20
- Scotiabank: buy $16.60, sell $19.60
It's important to note that these figures may change throughout the day, as the exchange rate is subject to market volatility.
La Verdad Yucatán
%3Aformat(jpg)%3Aquality(99)%3Awatermark(f.elconfidencial.com%2Ffile%2Fbae%2Feea%2Ffde%2Fbaeeeafde1b3229287b0c008f7602058.png%2C0%2C275%2C1)%2Ff.elconfidencial.com%2Foriginal%2F550%2Fb62%2F2b5%2F550b622b56f88d9572ab069218fbc035.jpg&w=3840&q=100)