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Mexican Peso Gains Against Dollar

13 June, 2013

Mexico’s peso gained value against the US dollar for a second day today,as
markets speculated that the worst of the international banking crisis may be
over.

According to data from Bloomberg,the peso gained 1.2 percent to
15.0735 per US dollar at 2:49 p.m. New York time,from 15.2543 yesterday. It has
rebounded after reaching an all-time low of 15.5892 on March 9,
2009.

Reuters news said that
comments yesterday about the US banking sector from Treasury Secretary,Timothy
Geithner,had had an effect. The agency said "Any support for US banks and the
wider economy bodes well for Mexico,which sends around 80 percent of its
exports to its northern neighbor."

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