Currency rate mexico,learn how to trade stocks online,scam free binary option software - Plans On 2016

09.01.2014 admin
Link to this page - if you would like to link to Mexican Peso(MXN) To US Dollar(USD) Currency Exchange. Below shows the current exchange rate of the currency pairs updated every 5 minutes and their exchange rates history graph. Nonetheless, the Mexican currency lost 12.7% of its value against the greenback in annual terms in February and, in recent days, it continued to fall uninterruptedly.
The daily auctions came on top of the currency intervention program that the Commission announced on 8 December through which it is aiming to sell USD 200 million of foreign exchange on trading days on which the peso has weakened by 1.5% over the previous day.

A similar program was put in place to support the currency between December 2011 and April 2013. The Mexican Central Bank has decided to maintain a cautious approach to Mexico’s economic growth, given the subdued performance of the economy, falling inflation and a weakening exchange rate, according to the 29 January monetary policy meeting minutes.
In regard to the effectiveness of the exchange rate measures, Clyde Wardle, EM FX Strategist, and Marjorie Hernandez, FX Strategist at HSBC, stated:Whether these efforts prove to be effective or not remains to be seen. In Mexico's case, the somewhat unusual amount of USD52m per day relates to the overall reserve accumulation program, as this was the amount the central bank planned to accumulate in reserves over the whole of this year (USD12.48bn).

Nonetheless, the Exchange Rate Commission has enough room to intervene more aggressively going forward if necessary as Mexico’s international reserves totaled USD 193 billion in 2014 and the country also has a stand-by credit line with the International Monetary Fund (the so-called Flexible Credit Line), which is worth USD 70 billion. Give the rapid depreciation of the Mexican currency, LatinFocus Consensus Forecast panelists expect the peso to end 2015 at 14.4 MXN per USD.

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