The Mexican peso dropped to its lowest value in about a week on Monday against the world’s reserve currency after retail sales data for August was lower than forecast.
Mexican Peso
Mexican peso spurred higher by central bank rate cut
The Mexican peso advanced on Friday against the U.S. dollar after the central bank opted to slash interest rates for the first time in almost four years, Reuters reports. By reducing borrowing costs from 4.5 percent to 4 percent, the Bank of Mexico is aiming to induce growth and development in Latin America's second-largest economy. Brazil,… Read more.
Peso notches third consecutive day of gains
Thursday saw the Mexican peso advance against the world's reserve currency for a third-straight day amid uplifting political activity in both Mexico and the U.S., Bloomberg reports. Optimism is strong for the new policies of President Enrique Pena Nieto, who signed on with a pact to develop national growth with three of the country's top… Read more.
Peso works to bounce back from sharp slump
The downward drive of the Mexican peso has been quite sharp during the past month, a rather surprising development considering the monetary unit's stronger performance thus far this year, Bloomberg reports. Harming Latin America's most traded currency are concerns about the economic slowdown. While the monetary unit has surged 12 percent since late May, it… Read more.
Peso’s climb reduces inflation, central bank governor says
Increased prices and cutting down on inflation's surge are likely to occur as a consequence of the strong performance of the Mexican peso, the country's central bank governor told a Mexican newspaper, according to Reuters. Agustin Carstens said during an interview with the publication that the Bank of Mexico is not very comfortable with inflation's… Read more.
Mexican peso continues upward tick against greenback
The Mexican peso benefited Friday from a weak U.S. jobs report, climbing against the U.S. dollar as speculation mounted about the central bank of the U.S. more seriously considering additional rounds of monetary stimulus, Reuters reports. Latin America's most traded currency continued climbs from Thursday afternoon when it notched its highest value in four months,… Read more.
Mexican growth slowed during Q2, when U.S. economy slipped
Mexico saw growth and development during the second quarter slow, which was likely influenced by the U.S. economy's reduced pace as well, Bloomberg reports. The host of Latin America's most traded currency saw its gross domestic product grow at about half the pace of the metric during the first quarter, prompted by the reduced rate… Read more.
Peso to endure volatility for years to come, central bank deputy governor says
The Mexican peso is poised for volatility during the upcoming years while financial markets throughout the world are uneasy in the face of the sovereign debt crisis, Bank of Mexico deputy governor Manuel Ramos Francia told Bloomberg late last week. Latin America's most traded currency will be volatile for years rather than months, he told… Read more.
Peso prone to bounce back and appreciate this quarter, central bank chief says
Inflation will slow this quarter and the economy's growth might not climb as high as forecast and even Latin America's most traded currency faces the prospect of increasing in value, the central bank chief of Mexico told Bloomberg during an interview. The Mexican peso might advance close to 12 per dollar, where the monetary unit… Read more.
Mexican peso drives toward recovery from lowest value against dollar in three years
Development and growth are in peril but Mexico's central bank left interest rates intact on Friday at 4.5 percent, Reuters reports. But the Banco de Mexico also noted concerns about inflation are strong as the peso loses value. Latin America's most traded currency was coming off 0.3 percent losses on Thursday, which were spurred by… Read more.