Exchange rate in Mexico: how much is the dollar trading today, Friday, August 5 in the country?

The price of dollar in Mexico trades higher on Friday, due to a strong global advance of the dollar after a solid US employment data that removed for the moment the specter of a recession in the world’s leading economy.

The US currency was on the rise and the exchange rate is trading at 20.40 pesos per dollar, according to data from the Bloomberg agency.

At the regional level, most Latin American currencies posted losses on Friday, due to a strong global advance of the dollar after a solid data on employment in the United States that for the moment removed the specter of a recession in the world’s leading economy. Meanwhile, most stock markets posted gains.

According to Reuters, US employers hired far more workers than expected in July and the unemployment rate fell to a pre-pandemic low of 3.5%, the strongest evidence yet that the economy was not in recession.

Nonfarm payrolls added 528,000 jobs last month, the Labor Department said in its employment report on Friday, closely watched by markets.

Strong job growth could keep pressure on the Federal Reserve to make a third interest rate hike of 75 basis points at its next meeting in September, though it will largely depend on inflation readings.

The dollar index, which compares the greenback to a basket of six major currencies, climbed around 0.9%.

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