World Economy
0

Mexico’s Peso Plummets

Mexico’s Peso PlummetsMexico’s Peso Plummets

Mexico’s beleaguered peso slid to a record low over 21 pesos per dollar, then bounced back to around 20.72 in a volatile session, still pressured by Donald Trump’s shock US election win, TVC News reported. The peso has become a lightning rod for market anxiety due to fears about the future of Mexican-US trade relations. Trump has vowed to build a border wall between Mexico and the United States, and threatened to rip up the North American Free Trade Agreement. After weakening nearly 4% overnight, the peso pared losses later on Friday. Trump’s presidential win has smashed Mexican assets, which are still reeling after his surprise victory on November 8. 

 

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com