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Mexico's peso currency falls to record low

Published 03/22/2020, 08:33 PM
Updated 03/22/2020, 08:35 PM
© Reuters.

MEXICO CITY (Reuters) - Mexico's peso currency tumbled 1.81% on Sunday to a new low of 24.86 pesos per U.S. dollar, after warnings of a big jump in unemployment in the United States and growing global worries due to the coronavirus pandemic.

Sunday's trading marks the 15th consecutive day that the currency has weakened. Over that time, the peso has been the most battered emerging market currency.

The currency is often seen as a proxy for emerging market investment climate as it can be traded 24 hours a day around the world.

Investors have expressed concern for the economic stewardship of Mexican President Andres Manuel Lopez Obrador long before the current public health crisis triggered a broad economic deceleration.

 

Latest comments

Mexicans attending outdoor concert while the rest of the world goes into lockdown.
What will happen to all the underground economy people? They can't get unemployment and won't get free money. Are they going back to their country?
Hopefully they go bankrupt
We own the most gold and have the biggest military, we're good. Mexico is screwed though along with every other ($)hit hole.
Thats not very clever from your side. If Mexico go bankrupt it will distupt the US economy as it is its second largest trade partner. Aditionally, more ilegal inmigrants would be willing to cross.
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