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Mexican Peso Climbs on Credit Rating

August 5, 2009 at 20:27 by Jan Baros

Mexican PesoThe Mexican Peso climbed to a 2-month high after Moody’s stated that the country has a stable outlook for investments, erasing speculations that the country would be downgraded for the first time since 1995.

The Mexican peso, together with multiple other emergent-market currencies, is gaining versus the U.S. dollar during the last weeks, and today, Moody’s Investors Service affirmed that the current country investment profile is stable, lifting doubts that the country could suffer a downgrade, which reflected immediately in a bullish day for the Mexican currency.

USD/MXN traded at 13.027 as of 18:23 GMT from an opening rate of 13.137 today.

If you have any questions, comments, or opinions regarding the Mexican Peso, feel free to post them using the commentary form below.

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