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In January 2002, the new president Eduardo Duhalde ordered his finance minister Jorge Remes Lenicov to repeal the Convertibility Law and adopt a new, provisional fixed exchange rate of 1.4 pesos to the dollar (a 29% devaluation) and the conversion of all the bank accounts denominated in dollars into pesos and its transformation in bonds ...
The value of the dollar continued to be set by reference to the British sovereign and the American eagle, at the rate of 4.8666 Canadian dollars equal to £1, and ten Canadian dollars equal to the ten-dollar American eagle, the same rates as set in the 1853 Province of Canada legislation.
The Canadian dollar traded at a record high of US$2.78 in terms of American greenbacks on July 11, 1864, since the latter was inconvertible paper currency. [38] However, the Canadian dollar remained close to par or 1:1 versus the gold or silver US dollar of the time.
The Mexican peso is the 16th most traded currency in the world, the third most traded currency from the Americas (after the United States dollar and Canadian dollar), and the most traded currency from Latin America. [5] As of 2 January 2025, the peso's exchange rate was $21.16 per euro, $20.62 per U.S. dollar, and $14.28 per Canadian dollar.
Before the end of the gold standard, gold was the preferred reserve currency. Foreign-exchange reserves is generally used to intervene in the foreign exchange market to stabilize or influence the value of a country's currency. Central banks can buy or sell foreign currency to influence exchange rates directly. For example, if a currency is ...
Coca-Cola issued similar guidance, forecasting comparable EPS percentage growth "to include a 6% to 7% currency headwind," while Johnson & Johnson predicted a $1.7 billion hit to full-year sales.
USD/MXN exchange rate Mexico inflation rate 1970-2022. 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.
Some other countries link their currency to U.S. dollar at a fixed exchange rate. The local currencies of Bermuda and the Bahamas can be freely exchanged at a 1:1 ratio for USD. Argentina used a fixed 1:1 exchange rate between the Argentine peso and the U.S. dollar from 1991 until 2002.