Mexico’s peso fell to a record low, swept up in a global currency selloff fueled by Greece’s standoff with European authorities over a bailout.
The Latin American nation’s currency fell as much as 0.5 percent to 15.8107 a dollar, the weakest intraday level since 1993, when the government redenominated the currency to create what was called the nuevo peso.
All 16 major dollar counterparts tracked by Bloomberg fell against the greenback on Wednesday.
The peso has lost 1.5 percent this week since talks on resolving Greece’s standoff with creditors broke down after Prime Minister Alexis Tsipras declared he would hold a public vote.
German Chancellor Angela Merkel, Europe’s dominant leader, refused to engage until after the July 5 referendum. Societe Generale said in a report Wednesday that the peso could depreciate past 16 per dollar.
bloomberg.com
The Latin American nation’s currency fell as much as 0.5 percent to 15.8107 a dollar, the weakest intraday level since 1993, when the government redenominated the currency to create what was called the nuevo peso.
All 16 major dollar counterparts tracked by Bloomberg fell against the greenback on Wednesday.
The peso has lost 1.5 percent this week since talks on resolving Greece’s standoff with creditors broke down after Prime Minister Alexis Tsipras declared he would hold a public vote.
German Chancellor Angela Merkel, Europe’s dominant leader, refused to engage until after the July 5 referendum. Societe Generale said in a report Wednesday that the peso could depreciate past 16 per dollar.
bloomberg.com
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