The US Dollar Keeps Falling in Mexico: See How It Closed in Colombia and the Dominican Republic

The dollar lost more ground in Mexico this Thursday, August 6.

The US dollar exchange rate posted another day of declines in Mexico and Colombia, although the movement in Colombia’s foreign exchange market differed. In the Dominican Republic, the US currency showed very little change compared with the previous day.

Why it matters: A cheaper dollar can change the value of remittances, influence how much money millions of families receive, and affect the cost of certain trips, purchases, and currency exchanges.

How the US Dollar Closed in Mexico, Colombia, and the Dominican Republic Today (Thursday, August 6)

Mexico (Banxico): 17.2317 pesos per US dollar, continuing its downward trend.

Foreign exchange market in Mexico: Buying at 16.88 pesos and selling at 17.48 pesos. At Banco Azteca, the dollar is bought at 16.20 pesos and sold at 17.99 pesos.

Colombia (Banco de la República): 3,168.783 Colombian pesos per US dollar, with another decline in the official exchange rate. In contrast, exchange houses in Bogotá are buying dollars at 3,340 pesos and selling them at 3,390 pesos, slightly above the previous day’s levels.

Dominican Republic (Central Bank): Buying at 58.18 Dominican pesos and selling at 58.39 Dominican pesos, with stable trading throughout the day.

US Dollar Exchange Rate Keeps Falling in Mexico – Infographic – MundoNow – Sources: Banxico, Banco de la República de Colombia, Central Bank of the Dominican Republic

What’s next: Mexico once again led the decline in the dollar exchange rate. How could this affect remittances, travel, and currency exchange?