Mexico's currency commission said on Thursday that it was changing the terms of its daily dollar auctions to stabilize the peso, but would continue to auction US$400 million through January 29.
The commission said that it will suspend daily dollar auctions without a minimum price starting November 23, but will extend daily auctions with a minimum bid for up to US$200 million through January 29.
Supplementary auctions for up US$200 million will be triggered if the currency fluctuates more than 1.5 percent versus the previous day's fix.