Mexican peso leads losses in global currencies after market crash

The currency of Mexico, the country closest to the United States territorially and economically, was the most affected after the collapse of the stock markets this Monday, August 5, as the depreciation of the currency due to volatility in the markets completed its third day of decline until exceeding a level not seen since 2022, when it surpassed the psychological barrier of 20 pesos per dollar. At the macroeconomic level, monetary authorities are concerned about how a possible recession in the United States could affect trade, while some Mexican citizens believe that a weakened peso gives strength to the US dollar, and therefore, gives them an advantage for tourism to increase with the arrival of foreigners.

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