Forex News

Live Forex news from all over the world.

    Archives

USD/MXN Rises a Little After Mexican Central Bank Raises Key Rate

February 8, 2018 at 20:38 by Vladimir Vyun

Many Mexican peso banknotesThe Mexican peso slipped a bit against the US dollar during the American trading session after Mexico’s central bank raised its overnight interbank funding rate.

The Banco de Mexico lifted its key interest rate by 25 basis points to 7.5%. Such move was widely expected by experts. The central bank increased borrowing costs as a measure to combat rising consumer prices after annual inflation climbed to 6.77% in December — more than double the central bank’s target of 3%.

USD/MXN edged up by 0.24% to 1.2598 as of 20:34 GMT today.

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

Leave a Reply

required
required  

Navigation

Menu