Mexico's central bank said on Monday that it will start a dollar auction program on Tuesday to help cushion the peso, which has seen a sharp slump.
The central bank said in a statement that it will offer $200 million a day at an auction that would be triggered whenever the peso has shed more than 1.5 percent from the previous session's fix rate.
The latest move by the central bank seeks to slow the declining value of the peso that lost 5% of its value since mid-November.
"The Bank of Mexico will offer daily $200m . . .
Already a Subscriber? Login Here
Popular posts:
Super Peso Coming Back Stronger Than Ever? Mexican Peso Poised for Strengthening in 2025 The Mexican peso is expected to strengthen in the first half of 2025 as investor confidence grows under the new administration and volatility surrounding the U.S. election subsides, according to a forecast by UBS Group AG. Gabriela Soni, Director of Investment Strategy at UBS Mexico, predicts the peso could gain approximately 5% from current levels,…
Mexican Peso Continues Unstable: Dollar Reaches Nearly 20 Pesos, Creating Economic Ripples in Mexico After several days of the exchange rate hovering around 19 pesos per US dollar, today's figures show a shift closer to the 20-peso mark, with the dollar standing at 19.529 pesos. This marks a noticeable increase from last Friday, signaling a continued rise in recent days. Although the change appears modest, the psychological impact of…
The Ups and Downs of the Peso: Mexican Peso Depreciates Amid Global Tensions Puerto Vallarta, Mexico - The Mexican peso is experiencing a depreciation against the U.S. dollar this Thursday morning, as global economic factors weigh heavily on the local currency. The peso has lost ground due to a stronger dollar, driven by investor caution over escalating tensions in the Middle East and recent labor market data from…
Orcas Sighted in Puerto Vallarta’s Bay of Banderas, Delighting Tourists and Marine Enthusiasts Puerto Vallarta, Mexico – Puerto Vallarta's stunning Bay of Banderas is not only a haven for vacationers but also a sanctuary for the region’s marine life, with a recent sighting of orcas thrilling locals and visitors alike. A group of these majestic cetaceans was spotted swimming and playing in the crystal-clear waters near the iconic…
Yellow Flags Raised on Puerto Vallarta Beaches in Anticipation of Tropical Cyclone John Puerto Vallarta, Mexico — As a precautionary measure, yellow flags have been raised on the beaches of Puerto Vallarta in response to the anticipated effects of tropical cyclone "John." While the storm poses no immediate threat to this popular tourist destination, authorities are taking preventive steps to ensure the safety of beachgoers. According to Puerto…
Mexican Peso Outlook Today: Middle East Tensions Tank Stocks, But Mexico’s Peso Surges The Mexican peso strengthened on Wednesday following President Claudia Sheinbaum's inauguration, as investors responded to promising economic signals from the United States. The domestic currency MXN= traded at 19.4364 pesos per dollar, showing a gain of 0.86% compared to Tuesday’s Reuters reference price. The appreciation followed a 0.37% gain during Tuesday’s international trading session, as…
Puerto Vallarta Weather Update for Friday, September 27, 2024 Puerto Vallarta, Jalisco - As the weekend approaches, residents and visitors in Puerto Vallarta can expect a day marked by mostly cloudy skies and sporadic rain. The tropical destination, which has recently seen significant development, continues to experience typical late-September weather conditions, characterized by warm temperatures and the likelihood of rain as the rainy season…- The Mexican Peso Today: Mexican Peso Gains Against U.S. Dollar Amid Strong Labor Data from the United States Puerto Vallarta, Mexico - The Mexican peso strengthened against the U.S. dollar on Friday morning, October 4, buoyed by positive labor market data from the United States. As of 6:52 a.m., the exchange rate stood at $19.33 Mexican pesos per dollar in the spot market, reflecting an appreciation of 0.11% compared to Thursday's close. This…
From Super Peso to Uncertainty: Extraordinary Peso Strength May be Drawing to a Close Puerto Vallarta, Mexico - As of October 1, Claudia Sheinbaum Pardo has officially assumed the presidency of Mexico, embarking on her term with a variety of economic challenges and uncertainties ahead. This leadership change has coincided with recent fluctuations in the Mexican peso, which, after a period of robust performance earlier this year, has shown…
Civil Protection and Fire Department Closely Monitors Tropical Storm John Puerto Vallarta, Jalisco - September 27, 2024 - The Civil Protection and Fire Department continues to monitor Tropical Storm 'John,' reassuring the public that there is no immediate threat of cyclonic effects in the region. Authorities report that the system is weakening as it interacts with the terrain, reducing its potential danger. As of Friday…
