The drop in the value of the Mexican peso - trading this week at around 16 to the dollar - is boosting exports and tourism, but it is also harming local businesses, analyst Rafael Carrero told EFE.
"Devaluations always have a double effect. For example, they increase tourism and boost trade, but they hit the country's domestic companies hard," Carrero, director of currency trading at the Actinver Group, said.
The Mexican peso was trading Monday at 16 per U.S. dollar, the lowest level in three decades, and the currency is down 8.4 percent against the greenback since the beginning . . .
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