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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.
USD/CAD settled below 1.2650 and is testing the support level at 1.2625.
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The peso problem in finance is a problem which arises when "the possibility that some infrequent or unprecedented event may occur affects asset prices". The difficulty or impossibility of predicting such an event creates problems in modeling the economy and financial markets by using the past.
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.
According to data from the IMF, the U.S. dollar accounted for 59.17% of global allocated foreign exchange reserves in the third quarter of 2023 (the latest data set).
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.