“The Mexican peso has weakened nearly 23% this year, closing the last day of trading on Tuesday at 20.82 pesos to the dollar, the currency’s deepest drop against the dollar since the 2008 global financial crisis.”, — write: epravda.com.ua
The Mexican peso has weakened nearly 23% this year, closing the last day of trading on Tuesday at 20.82 pesos to the dollar, the currency’s deepest drop against the dollar since the 2008 global financial crisis. Reuters writes about it. A volatile year for the peso began with months of steady growth leading up to June’s general election, which gave a leftist coalition led by the ruling Morena party a resounding victory in the presidential race as well as a large majority in Congress. Ahead of the election, the Mexican currency traded at 16.26 pesos to the dollar in April, hitting a nine-year high.Advertisement: Morena’s election victory paved the way for constitutional reforms in September, including an overhaul of the judiciary that critics say , will undermine judicial independence in Latin America’s second-largest economy. Mexico’s main stock index also lost value for the year, falling nearly 14% to close at 49,513 on Tuesday, its steepest decline since 2018.