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Mexico's central bank sells $6.4 bln to boost currency |
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13:20, October 11, 2008 |
Mexico's central bank sold Friday 6.4 billion U.S. dollars in an effort to stop the depreciation of Mexican peso against dollar.
The measure was taken by the Exchange Commission formed by the central bank and the Treasury Ministry.
The bank Friday staged two extraordinary auctions for 3 billion dollars each and another for 400 million dollars, the Exchange Commission said in a communique.
The bank sold 900 million dollars Wednesday and 400 million Thursday in an attempt to boost the flagging peso.
Mexican economy has registered exchange volatility since Monday due to the global financial crisis.
The dollar rose to 13.50 against the peso Friday compared with 10.30 a week before.
The Mexican government will also modify its budget for 2009, taking into consideration a predicted drop in foreign currency earnings, Calderon said.
Source: Xinhua
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