(Posta)
The Mexican peso rallied on Friday to its strongest level since the day following the U.S. presidential election after U.S. Secretary of Commerce Wilbur Ross said that a sensible trade deal with Mexico will help its battered currency.
The peso strengthened more than 2.3 percent to 19.5200 per dollar, its best showing since Nov. 9 after Donald Trump’s surprise election win. Trump has threatened to pull the United States out of the North American Free Trade Agreement (NAFTA) with Mexico and Canada and slap a hefty tax on imports to the United States from Mexico to pay for a border wall.
Speaking on CNBC, Ross also said NAFTA fears had pummeled the peso, which weakened nearly 17 percent after the U.S. election to a historic low on Jan. 11.
Mexico’s central bank, which has hiked interest rates by 325 basis points since last year, recently announced plans to offer up to $20 billion USD in currency hedges to shore up the peso. The first auction of up to $1 billion is slated for March 6.
Source: nasdaq.com via Reuters
Comments
more recommended stories
State government announces inauguration date for new Parque La Plancha: Mérida’s “Central Park”Mérida’s Gran Parque La Plancha is.
Spaniard who travels the world by bicycle with his dogs makes a stop in YucatánFour years ago, Miquel Sorell had.
It’s official! The Merida Marathon will take place on Sunday, January 8, 2023Marathon Merida Banorte Once again, the.
Wakanda Forever” actor to give presentations in MéridaJosué Maychi, the actor from Campeche.
Married couple’s pickup truck overturns and ends up catching fireA young man and his pregnant.
VivaAerobus leaves more than 120 passengers stranded at Merida airportDue to bad weather, VivaAerobus cancelled.
Subject arrested as he was trying to get hit by a passing car on Paseo de Montejo arrestedAgents of the Secretary of Public.
Yucatecan Maya writer receives Award for Indigenous Literature of the Americas at FIL GuadalajaraLiterature has the power to give.
25 year-old man choked to death in restaurant in northern MeridaA young man, 25 years old,.
Enjoy the ‘Paseo Navideño de las Flores’ with new venues in YucatánAs part of the free options.
Leave a Comment