October 20, 2021
Markets

EMERGING MARKETS-Mexican peso tumbles over 1% to lead losses in Latam as COVID-19 cases surge

(Updates prices throughout) By Susan Mathew and Shreyashi Sanyal Aug 20 (Reuters) – Mexico’s peso dropped more than 1% to hit a two-month low on Friday, leading declines across Latin American currencies as the dollar held at 9-1/2-month highs amid global growth worries stemming from rising COVID-19 cases. The peso extended losses to a fifth straight session, taking its decline so far this week to 2.6% – its worst in two months. Mexico’s daily COVID-19 cases hit record highs on Wednesday of nearly 29,000, as the country battles a new wave of the pandemic. The official death toll, which officials say underestimates the real numbers, passed 250,000, one of the highest worldwide. The United States on Friday extended the closure of its land borders with Canada and Mexico to nonessential travel such as tourism through Sept. 21 and airline officials say it will be at least weeks and…

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