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lakeside7

Peso free fall

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6 minutes ago, lakeside7 said:

Anyone with knowledge know why the Pesos is tanking..I got 19 to the $ this morning at Intercam

Oh good, another 4 pages of guesses and negative comments. HAHAHAHA

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I wouldn't call it a free fall.  Trading in a range 18-19 for some time, recovered most of the AMLO fear factor.

From XE

Quote

The Dollar and Yen rose while the Euro, Australian Dollar and other currencies dropped as risk-off went next level today as the Turkish Lira dove to new record lows, which in turn sparked risk aversion in other emerging market currencies. Ankara implemented raft of measures that successfully stopped the rout in the Lira, which in turn brought some respite to broader markets, though global stock markets remain down. The USD index (DXY) printed a fresh 13-month high at 96.52 and EUR-USD concomitantly hit a 13-month low at 1.1365 in pre-Europe trade in Asia before finding a toehold. EUR-JPY and other Euro crosses have seen similar price actions (the common currency being vulnerable to Turkish markets via to the exposure of European banks). USD-JPY traded lower on safe haven demand for the Yen, losing over 0.5% in printing a seven-week low at 110.11. AUD-JPY lost nearly 1% at 21-month lows. The South African Rand was showing a loss of over 10% at its intraday low before rebounding as the Turkish Lira steadied. The Swiss franc has made a rare re-emergence as a safe haven currency, which has driven EUR-CHF down by 0.5%. The PBoC set the USD-CNY reference rate higher today, at 6.8629 after 6.8395 on Friday.

See bolded part, may be related to that.

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39 minutes ago, lakeside7 said:

Anyone with knowledge know why the Pesos is tanking..I got 19 to the $ this morning at Intercam

Hahahahaha. “Tanking” at 19 to the dollar. Seriously? 

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I got 20.8 pesos per US dollar from Actinver Bolsa at either the end of June or early July some 40 to 50 days ago

Shown below is the change last week which was not that large.

As you can see the Bank of Mexico had the spot rate at 18.9273 Friday and today it is Pesos por dólar) 19.1801

10/08/18 Banxico

En 18.9273 pesos cierra la semana el precio del dólar en su cotización FIX, 28 centavos más que ayer (+1.5%), y 38 más que el lunes pasado (+2.0%).

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If a month ago it was 20.8 pesos to the us $ and today it is 19.1 then it’s the usd that’s weakening; can’t even begin to think the word tanking to even be in the realm of adjectives.

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It's not tanking. Holy cow. And variations are always based on the same market conditions.

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What a laugh, tanking! We were here in the early '90s when it was 3000p/$.  The correction made it 10p/$.....19p is great for us Americans but it sucks for Mexicans because anything imported must be paid eventually in dollars so its twice as expensive for them.  More important it should be considered what will happen if the US petro dollar crashes....

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33 minutes ago, cafemediterraneo said:

 More important it should be considered what will happen if the US petro dollar crashes....

The price of chicken will go up

 

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