Bloomberg: The currency declined 1.4 percent to 14.3591 per dollar at 4 p.m. in Mexico City, the biggest drop since August 2013 and the weakest closing level since May 2012. On the week, the peso lost 3 percent, the most among 16 major currencies tracked by Bloomberg.
The central bank’s board held the target lending rate today at a record low 3 percent, saying in a statement that economic risks have deepened since its October decision amid weaker global momentum. The slump in the currency may spur inflation, policy makers said. Read more.
The MexicoBlog of the Americas Program, a fiscally sponsored program of the Center for Economic and Policy Research (CEPR), is written by Laura Carlsen. I monitor and analyze international press on Mexico, with a focus on security, immigration, human rights and social movements for peace and justice, from a feminist perspective. And sometimes I simply muse.
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