Mexican peso slumps to new record low.
The Mexican peso slumped to 16.44 per dollar on Wednesday July 22, a new record low after touching 16.33 on Monday July 20th.
Its 4% drop in the past month is the steepest among Latin American currencies after Colombia’s peso.
Recently Citigroup Inc. and JPMorgan Chase & Co. predicted the currency would slump to that level by the end of the third quarter. However, their projections were overrun by the unremitting weakening of the peso.
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