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.