The Bank of Mexico Friday released 400 million U.S. dollars to the market in a bid to prevent the depreciation of Mexican peso.
Till Friday, Mexican government has injected, through its central bank, a total of 14 billion U.S. dollars in the market since its first such operation in October.
The Mexican central bank started tapping its international reserves in October as a strategy to contain the depreciation of peso, when its exchange rate with U.S. dollar had surpassed one to14.
Demand for dollars reached 1.324 billion, with a maximum exchange rate of 13.90 pesos per dollar, when the central bank opened the sale of dollar Friday morning.
On Thursday, trade in dollar opened at 14.01 pesos for one dollar, a rise of 21 cents of pesos over the price at the previous opening on Wednesday and closed at 13.97.
The exchange rate between the U.S. dollar and Mexican peso surpassed on Friday one to 14 at all the financial institutions in Mexico.
Source:Xinhua
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