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Author: Subject: Peso exchange rate
durrelllrobert
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[*] posted on 9-24-2015 at 10:23 AM
Peso exchange rate


Mexico's peso tumbled to a record low on Thursday as concerns about global growth weighed on riskier assets around the world.

The peso shed more than 1 percent to 17.3165 per dollar, its weakest since the currency was floated in the 1990s, before bouncing back to trade around 17.23 pesos per dollar, or 0.6 percent weaker than a day earlier.

Mexican policymakers had increased a dollar sales program in July to support the peso. That program is set to expire at the end of the month, but analysts expect it will soon be extended.

The central bank sells $200 million a day to the market and offers $200 million more when the peso weakens by 1 percent from the previous day's fix rate.

Mexico's central bank held borrowing costs steady on Monday, flagging tame inflation, but signaled it is prepared to raise rates if the peso's losses hit consumer prices.

So far there has been little impact on prices, and data later on Thursday is expected to show the pace of inflation cooled to a fresh record low in early September.

http://www.reuters.com/article/2015/09/24/mexico-forex-idUSL1N11U0SH20150924




Bob Durrell
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[*] posted on 9-24-2015 at 11:01 AM


So for my quick in my head conversion I'll use 100 pesos equals 6 dollars.

It was 8 dollars for a long time.

That's a 25% drop.
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durrelllrobert
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[*] posted on 9-24-2015 at 11:17 AM


Quote: Originally posted by SFandH  
So for my quick in my head conversion I'll use 100 pesos equals 6 dollars.

It was 8 dollars for a long time.

That's a 25% drop.

Yep, but according to Mx government that hasn't affected consumer goods inflation :biggrin:




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[*] posted on 9-24-2015 at 11:21 AM


It depends. The 25% is in relation to the dollar so goods imported from the US and sold in Mexico will certainly cost more.

But it's not so clear how the prices of goods originating in Mexico are affected.
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[*] posted on 9-24-2015 at 11:39 AM


Tacos will be cheaper. That is all I care about.



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[*] posted on 9-25-2015 at 07:27 AM


Mexican prices in pesos are creeping up in the local stores (TJ)
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