Title: US Dollar Gains Strength as Job Market Shows Resilience and Fed Prepares Rate Hike
Subtitle: Latest Updates on Exchange Rates in Mexico, Honduras, Guatemala, Nicaragua, and Costa Rica
Sunday has arrived, and while financial markets are closed over the weekend, it is important to stay informed about the latest fluctuations in our national currency, the US dollar.
According to Investing.com, the US dollar closed the week of Friday, July 21, with gains. The dollar index (DXY), which measures its value against a basket of six major global currencies, experienced a 0.20 percent rise, settling at 101.08 units.
One of the primary reasons for the greenback’s ascent is the release of recent labor data from the United States. Official figures show that unemployment benefit applications were lower than analysts’ expectations, indicating a robust labor market.
Additionally, the upcoming monetary policy meeting of the United States Federal Reserve (Fed) is contributing to the strength of the dollar. Experts predict that the Fed will announce a final 25 basis point hike in interest rates. This aggressive stance by the central bank aims to curb inflation, which reached a high of nine percent in July 2022. Despite successfully bringing the inflation rate down to three percent as of June, the Fed’s target is two percent.
The Federal Open Market Committee (FOMC), responsible for discussing monetary policy, will convene on July 25-26. The final decision regarding the interest rate hike will be announced on Wednesday, July 26th, at 2:00 pm ET.
In today’s update from Investing.com, here is the latest exchange rate for the US dollar against various currencies in Mexico, Honduras, Guatemala, Nicaragua, and Costa Rica:
Mexico: 16.9875 Mexican pesos (MXN) (+0.68%)
Costa Rica: 536.38 Costa Rican Colon (CRC) (-0.07%)
Guatemala: 7.8524 quetzales (GTQ) (+0.02%)
Honduras: 24.6300 lempiras (HNL) (+0.04%)
Nicaragua: 36.5250 córdobas (NIO) (-0.07%)
Additionally, here are the exchange rates for buying and selling the US dollar in these countries:
In Mexico: Buying – 16.4700 Mexican pesos (MXN), Selling – 17.3600 Mexican pesos (MXN)
In Costa Rica: Buying – 529.00 Costa Rican Colon (CRC), Selling – 543.00 Costa Rican Colon (CRC)
In Guatemala: Buying – 7.67 quetzales (GTQ), Selling – 7.91 quetzales (GTQ)
In Honduras: Buying – 24.5959 lempiras (HNL), Selling – 24.7189 lempiras (HNL)
In Nicaragua: Buying – 35.95 córdobas (NIO), Selling – 36.82 córdobas (NIO)
As the dollar strengthens and anticipation builds around the Fed’s monetary policy decision, it is crucial to stay informed about these developments. Keep an eye on how these exchange rates evolve in the coming days.