After a part of the 2010 budget was approved by the government, confidence towards the Mexican economy improved, attracting investors to the Latin American emergent market and influencing positively the peso rates.
The Mexican peso is the currency of Mexico, while it has also limited use in border areas of the United States. The modern version of the currency was introduced in 1993, replacing the old currency that had faced a massive devaluation. Mexico’s peso is the most-traded currency in Latin America. The Mexican economy is export oriented. Most of the country’s exports go to the United States and Canada.
Mexican Peso News Archive
Mexican Peso Down on U.S. Manufacturing Figures
October 15, 2009 at 23:02 Mexican Peso
The Mexican peso was rallying significantly this week but had its gains halted as Philadelphia manufacturing posted a timid grow for the past months, raising doubts towards the economic recovery pace in the United States.
Mexican Peso Climbs on Fiscal Reform
October 12, 2009 at 22:43 Mexican Peso
The Mexican peso managed to high the highest level in October after speculations suggested that the government will find the support needed to pass a budget reform in the country, helping the national currency to rally.
Mexican Peso Down on Commodities and U.S. Unemployment
October 1, 2009 at 19:19 Mexican Peso
This Thursday was marked by a weak performance for the Mexican currency as the crude oil, one of the main Mexican exports to the U.S. declined further, and jobless claims in the U.S. came with worse-than-expected figures.
Mexican Peso Decline on U.S. Jobless Claims
September 17, 2009 at 20:43 Mexican Peso
After rallying for several days in a row together with most emergent market currencies as optimism rose globally, the Mexican peso had its first decline versus majors as jobless claims are still on the rise in U.S., raising concerns of the employment conditions in the wealthiest country of the world.
Mexican Peso Declines on U.S. Trade Dispute
September 14, 2009 at 22:28 Mexican Peso
The Mexican currency declined today after a series of international events affected the peso negatively, as the crude oil declined and China entered a trade dispute with the United States.
Mexican Peso Drops on Political Crisis
September 12, 2009 at 0:06 Mexican Peso
The Mexican peso climbed during this week as risk appetite rose in international trading markets increasing attractiveness for emergent markets assets, but today, after the opposition party attitude towards new taxes, the peso declined.
Mexican Peso Extends Gains on Optimism
September 8, 2009 at 22:38 Mexican Peso
The Mexican peso had the fifth consecutive gains versus the U.S. dollar as optimism is helping stocks to climb globally, damping demand for the greenback and attracting investors to emergent markets like Mexico.
Mexican Peso Climbs on U.S. Employment Data
September 4, 2009 at 21:49 Mexican Peso
Today, after U.S. employment data indicating that jobs were suffered less losses than forecasts, risk appetite returned to markets worldwide, favoring emergent market currencies like the Mexican peso.
Crude Oil Puts Mexican Peso Further Down
August 26, 2009 at 23:42 Mexican Peso
The Crude oil has been declining this week as uncertainties towards its demand have been rising on markets globally, Mexico, one of the biggest suppliers of oil to the United States, is witnessing a severe decline on its national currency as the demand for crude oil falters.