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The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight.
USD/MXN exchange rate. Mexican peso crisis in 1994 was an unpegging and devaluation of the peso and happened the same year NAFTA was ratified. [2]The Mexican peso (symbol: $; currency code: MXN; also abbreviated Mex$ to distinguish it from other peso-denominated currencies; referred to as the peso, Mexican peso, or colloquially varo) is the official currency of Mexico.
Measurement of Poverty, United Mexican States, 2012. Mexico has many problems that it is trying to deal with and it has turned to the World Bank for help. Income distribution is still unequal, there are still people within extreme poverty, and there seems to be a problem with productivity as outlined in the diagnosis of the PDP in 2013-2018. [8]
The peso trimmed some losses after falling nearly 1% earlier in the session as Banxico, as the Bank of Mexico is known, kept its benchmark interest rate unchanged at 4.25% despite expectations of ...
The currency has depreciated 2.5% since Trump said last week that he would levy tariffs against Mexican imports unless the country does more to halt migration from Central America.
The peso, seen as vulnerable to new tariffs Trump plans to impose, is down 4% from its September high. MSCI's gauge for Latin American currencies has slipped over 3% during that period.
The Mexican Peso Crisis was extremely severe. At the same time, major organizations such as the International Monetary Fund, the World Bank, and other major banks, such as J.P. Morgan, praised the Mexican economic reforms of the time, claiming that the country's reforms were effective in bettering the economy. [13]
Friedman noted the large gap between the interest rate on Mexican bank deposits and the interest rate on comparable US bank deposits. Friedman reasoned that interest differential reflected concern in the market that the peso would be devalued. This was eventually realized in 1976 when the peso, allowed to float, fell 46 percent. [1]