The central bank chief calls it a “temporary pothole.”
Whatever the term, Mexico’s economy has hit some turbulence – despite the most ambitious overhaul to its business structure in decades.
Tax hikes have dampened consumer confidence, retail sales remain stagnant, and low U.S. demand for Mexican-made cars and televisions slowed the economy earlier this year to its lowest point in four years. Mexico grew at a sluggish 1.8 percent rate in the first quarter of 2014, forcing the government to ratchet down its forecast to 2.7 percent growth for the year.
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August Sees Largest Drop in International Tourism at Mexico’s Top Tourist Destinations, Including Puerto Vallarta Puerto Vallarta, Mexico - August has marked a concerning turning point for Mexico’s major tourist destinations, showing the largest decline in international passenger traffic this year. According to the latest report from the Sustainable Tourism Advanced Research Center (STARC), international passenger traffic at key airports, including Cancun, Puerto Vallarta, and Los Cabos, has contracted by…
Tactical Group reinforces security in Vallarta Puerto Vallarta, Mexico — In an effort to enhance safety and deter criminal activity, the Tactical Operations Group (GOT) has increased its presence in Puerto Vallarta. This is part of a broader strategy initiated by the Citizen Security Commission aimed at curbing crime in key areas of the city through heightened surveillance and increased police…
Superpeso: How Peso Depreciation is Raising the Cost of Food, Technology, and Transportation in Mexico Puerto Vallarta, Mexico - In a recent turn of events, the Mexican peso has faced significant depreciation against the U.S. dollar, as the price of the dollar soared to over 21 pesos at Mexican banks. The interbank exchange rate, which is primarily used for closing contracts, exports, and debt transactions, also saw the dollar climb…
Dollar Crushes the Peso Surpasses 20 Peso Barrier Puerto Vallarta, Mexico - The exchange rate of the Mexican peso against the US dollar has surged past the 20 peso mark, reaching 20.11 pesos per dollar on Thursday, representing a depreciation of 0.87% compared to Wednesday's closing value. At the start of the trading day, the dollar was quoted at 20.14 pesos, its highest…- Mexican Peso Rebounds After Two-Year Low Amid Justice Reform Concerns and US Inflation Report Puerto Vallarta, Mexico - The Mexican peso appreciated on Wednesday following a steep decline, as concerns about the implications of a controversial justice system reform and the impact of a US inflation report weighed on investors. The currency recovered by 1.46%, closing at 19.8012 per dollar, compared to Tuesday’s weak finish of 20.1470 units—the peso’s…
Peso Suffers Relapse in Afternoon With Weakest Peso in Two Years Puerto Vallarta, Mexico - The Mexican peso has been trading above 20 units against the U.S. dollar for the second consecutive day, as both internal and external factors drive market fluctuations. On Friday, the peso reached 20.09 pesos per dollar on the wholesale market, following Thursday’s closing rate of 19.93 pesos per dollar. The depreciation…
Riviera Nayarit Rises as a Tourism Powerhouse with Major Hotel Developments Puerto Vallarta, Mexico - While Puerto Vallarta has seen a stagnation in new tourism-related developments over the past decade, the neighboring region of Riviera Nayarit is undergoing a significant transformation, positioning itself as a key player in Mexico’s booming tourism sector. With 14 new hotels currently under construction, some backed by major global brands, Riviera…
Mexican Peso Gains at Opening on Better Than Expected Inflation Report Puerto Vallarta, Mexico - The Mexican peso appreciated on Monday as investors reacted to local inflation data that came in lower than market expectations, while also keeping a close eye on developments surrounding a controversial judicial reform. The domestic currency, MXN, was trading at 19.8519 units per dollar, marking a 0.59% increase from Friday’s Reuters…
Tropical Depression Likely to Form Near Puerto Vallarta, Heavy Rainfall Expected Puerto Vallarta, Mexico – A broad area of low pressure situated a few hundred miles southwest of the Mexican coast is showing signs of further development as it continues to produce widespread showers and thunderstorms. This weather system, which stretches from the coast of Mexico and extends several hundred miles offshore, is expected to develop…- Superpeso Struggles: Mexican Peso Opens Friday with Gains After US Jobs Report The Mexican peso gained ground on Friday as the U.S. dollar weakened broadly, following the release of lower-than-expected U.S. employment figures. This shift in market sentiment fueled growing expectations that the U.S. Federal Reserve may initiate an aggressive series of interest rate cuts this month. As of Friday, the Mexican peso (MXN=) was trading at…
