Mexican peso

Carlos Serrano, chief economist of BBVA Bancomer, said that the current exchange rate does not reflect the country's macroeconomic conditions.

The Mexican currency has rallied about 9 percent since the central bank delivered its half-percentage-point hike on Feb. 17.

Asked if a rate of around 18.14 pesos per dollar reflected reality, the Finance Minister said "not necessarily".

Mexico's central bank on Wednesday unexpectedly raised its benchmark interest rate by 50 basis points to 3.75 percent.

The peso slumped for a sixth day, to an all-time low of 19.174 per U.S. dollar.

The weakness in Russia, Mexico, and Norway as a derivative of lower commodity prices doesn’t look likely to change anytime soon.

The local currency traded at 17.05 pesos per dollar.

To stem the currency's fall, Mexico's central bank offers US$200 million in daily auctions as well as an additional US$200 million when the current falls more than 1 percent from the previous day's fix price.

Yesterday Mexico's peso slipped to a new low against the dollar, breaching the 17 pesos per dollar mark for the first time.

The peso fell due to negative data in China