Mexican Peso Trades At Record Low Against U.S. Dollar
July 24 2015 - 9:50AM
RTTF2
The Mexican Peso traded at a record low against the U.S. dollar
in New York deals on Friday, as the latter firmed on prospectus for
a Fed rate hike in September.
Data from the Insituto Nacional de Estadistica Y Geografia
showed that Mexico's jobless rate fell to 4.41 percent in June from
4.45 percent last month. Economists had expected the jobless rate
to come in at 4.34 percent.
The Mexican currency has been trading in a negative territory
since mid-July, led by a rout in commodities, coupled with weak
domestic growth.
The Mexican Peso depreciated to a record low of 16.30 a dollar
and has been steady thereafter. At Thursday's close, the pair was
valued at 16.21.
The Banco de Mexico meets next week, when it is expected to keep
interest rate at a record low of 3 percent for a ninth straight
meeting.
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