Bank of Mexico boosts peso with additional 1.5 billion dollars
Mexico City - The Bank of Mexico used an additional 1.5 billion dollars to prop up the Mexican peso on Thursday, following a sharp depreciation in recent days.
With the latest intervention, Mexico's central bank has sold more than 10.8 billion dollars since last week.
The dollar is now worth more than 13 pesos, while it was worth some 11.2 pesos on October 1.
The Bank of Mexico sold 2.5 billion dollars on October 8 and 6.4 billion dollars last Friday. It promised to intervene in the currency markets with about 400 million dollars per day for as long as necessary to protect the peso. (dpa)
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