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. 

No comments:

Post a Comment