World Economy

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. 


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