Bloomberg: The Mexican peso’s decline gathered speed, falling by the most in eight weeks to a new record and prompting the central bank to sell $200 million under a currency-intervention program.
The peso slid 1.1 percent to 16.4708 per U.S. dollar as of 1:13 p.m. in Mexico City, sinking the most since June 5. Mexico’s currency has lost 10 percent this year. 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.
Showing posts with label peso. Show all posts
Showing posts with label peso. Show all posts
Jul 2, 2015
The peso hits new record low
Vallarta Daily: Mexico’s currency hit its weakest level on record on Wednesday, part of a broader slump in regional currencies depressed by concern that Greece may leave the euro zone and that U.S. interest rates are headed higher.
Mexico is seen as particularly vulnerable to the effects of higher borrowing costs in the Unites States, its main trading partner. The country’s manufacturing sector slipped in June to its lowest in 11 months, a survey showed, even before the potential U.S. rate hike. Read more.
Mexico is seen as particularly vulnerable to the effects of higher borrowing costs in the Unites States, its main trading partner. The country’s manufacturing sector slipped in June to its lowest in 11 months, a survey showed, even before the potential U.S. rate hike. Read more.
Dec 14, 2014
It's Not Looking Good For Mexico
Business Insider: The Mexican peso is tanking and the Banco de Mexico is stepping in to try to contain the damage.
The peso has been moderately sliding against the dollar throughout the year, but has really fallen dramatically since the end of October. Read more.
Mexico moves as peso near 6-yr low, hedges add to pain
Reuters: The Mexican peso slumped to its lowest level in nearly six years on Thursday, triggering central bank intervention, and analysts expect even deeper losses as foreign investors hedge record holdings of local currency debt.
Global markets have been sent into a tailspin after a sharp drop in oil prices prompted the selling of riskier assets near the year end.The peso is down more than 4 percent since Dec. 4, its worst six-session run in 1-1/2 years. On Thursday, it shed 1.4 percent to 14.7775 per U.S. dollar and triggered the central bank to sell $200 million at auction. Read more.
Global markets have been sent into a tailspin after a sharp drop in oil prices prompted the selling of riskier assets near the year end.The peso is down more than 4 percent since Dec. 4, its worst six-session run in 1-1/2 years. On Thursday, it shed 1.4 percent to 14.7775 per U.S. dollar and triggered the central bank to sell $200 million at auction. Read more.
Dec 11, 2014
Mexico vows to sell dollars to halt peso's slide
AP: Mexico is ready to intervene in currency markets to fight the peso's fall against the dollar amid concerns over dropping oil prices and a possible increase in U.S. interest rates.
Mexico's Exchange Commission said that as of Tuesday, the government will hold a daily auction of $200 million whenever the peso falls at least 1.5 percent from the previous day. Read more.
Mexico's Exchange Commission said that as of Tuesday, the government will hold a daily auction of $200 million whenever the peso falls at least 1.5 percent from the previous day. Read more.
Dec 8, 2014
Mexican Peso Falls to Two-Year Low as Central Bank Dims Outlook
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 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.
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