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The Weak US Dollar: Impact on Currency Exchange Rates on July 4

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The Weak US Dollar: Impact on Currency Exchange Rates on July 4

Title: US Dollar Weakens on Independence Day; Economic Activity to Resume on July 5

Subtitle: Dollar Index Declines and Exchange Rates in Mexico and Central America

Date: July 4, 2022

The US dollar showed signs of weakness in early trading on this Tuesday, July 4, following a weak closing on Monday. The suspension of economic activities in the United States due to Independence Day celebrations has impacted the market performance. As government institutions and offices remain closed, the real economic activity is expected to resume on Wednesday, July 5.

July 4, commonly known as Independence Day, marks another anniversary of the American Union’s freedom from colonial rule. The national holiday signifies a day of celebration, leading to the suspension of work across the nation. However, market analysts anticipate economic momentum to pick up quickly as data for durable goods and factory orders in May will be released on July 5. Additionally, crucial employment data to be revealed on Friday will influence the Federal Reserve’s upcoming decisions on monetary policies.

The dollar index, a measure used to gauge the strength of the US dollar against a basket of the six major currencies, experienced a decline of 0.6 percent, settling at 102.93 units, as reported by the Investing.com finance portal.

Here are the exchange rates in Mexico and several Central American countries for today, July 4, according to the latest update from the finance portal:

– Mexico: 1 US dollar (USD) equals 17.0191 Mexican pesos (MXN)
– Costa Rica: 1 USD equals 542.82 Costa Rican Colon (CRC)
– Guatemala: 1 USD equals 7.8485 quetzales (GTQ)
– Honduras: 1 USD equals 24.7057 lempiras (HNL)
– Nicaragua: 1 USD equals 36.5885 córdobas (NIO) – Buy Rate

And the sale rates are as follows:

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– Mexico: 1 US dollar (USD) equals 17.0145 Mexican pesos (MXN)
– Costa Rica: 1 USD equals 529.97 Costa Rican Colon (CRC)
– Guatemala: 1 USD equals 7.6649 quetzales (GTQ)
– Honduras: 1 USD equals 24.2467 lempiras (HNL)
– Nicaragua: 1 USD equals 36.1294 córdobas (NIO) – Sale Rate

Please note that these exchange rates are subject to fluctuation and should be verified with local financial institutions or exchange bureaus.

Overall, the US dollar’s weakness on Independence Day is expected to be a temporary market trend, with economic activities set to resume on July 5. The release of key economic data in the coming days will provide further insights into the impact on the US dollar’s value and influence the Federal Reserve’s monetary policy decisions.

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