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Mexican Peso

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BUSINESS
March 3, 2009 | Tom Petruno
The Mexican peso plunged to new lows against the dollar Monday as global investors again rushed for the perceived safety of the greenback despite the horrid U.S. economy. The peso was trading at 15.47 per dollar for large transactions between banks, compared with 15.15 on Friday and 14.5 two weeks ago. Retail buyers and sellers would be quoted different rates, but the trend is the same: more peso weakness.
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WORLD
December 22, 2009 | By Ken Ellingwood
The dead drug lord lay on his back, blood-soaked jeans yanked down to the knees. Mexican peso notes carpeted his bullet-torn body, and U.S. $100 bills formed neat rows next to his bared belly. The gory photograph of Arturo Beltran Leyva, one of Mexico's most wanted kingpins, was among those widely published here during the last few days following his death in a shootout Wednesday with Mexican marines in Cuernavaca, capital of the central state of Morelos. Even in a country where pictures of gruesome crime scenes routinely show up on the front pages of newspapers, the Beltran Leyva images have stirred controversy over who staged the tableau and whether Mexican authorities did so to send a taunting message to the rest of his powerful drug trafficking gang.
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BUSINESS
February 10, 1986
Mexico's currency has fallen to its lowest level since November, and private analysts blame investors' fears over the effect that lower world oil prices will have on the country's troubled economy. Private exchange houses in Mexico City on Friday offered 500 pesos for each U.S. dollar on the free market and demanded 515 pesos from those wanting to buy. Late in the day, they lowered the rates to 485 and 500 pesos, respectively. Along the U.S.-Mexico border, U.S.
BUSINESS
March 3, 2009 | Tom Petruno
The Mexican peso plunged to new lows against the dollar Monday as global investors again rushed for the perceived safety of the greenback despite the horrid U.S. economy. The peso was trading at 15.47 per dollar for large transactions between banks, compared with 15.15 on Friday and 14.5 two weeks ago. Retail buyers and sellers would be quoted different rates, but the trend is the same: more peso weakness.
BUSINESS
June 6, 1986 | Associated Press
The Mexican currency fell past 600 pesos to the dollar Thursday in the third straight day of a marked deterioration of its value. Prevailing rates on the free market were 635 pesos for those wanting to sell dollars and 640 to buy one. The rates were up sharply from Wednesday's quotes of 585 and 595. The peso briefly slipped past the 600 mark Wednesday morning at some exchange houses before strengthening later in the day. It was the first time that the peso's value had weakened to that level.
NEWS
June 5, 1985 | JUAN M. VASQUEZ, Times Staff Writer
A heavy upsurge in trading of the Mexican peso over the last few days has triggered wild fluctuations in the currency exchange rate and raised new fears over the stability of Mexico's beleaguered economy. Although the official exchange rate set by the government stands at 241 pesos to $1, some American merchants along the Texas border have been demanding as much as 300 to $1. Some currency traders have dropped out of the peso market altogether.
CALIFORNIA | LOCAL
January 4, 1995 | ROSS PEROT, Texas businessman Ross Perot was one of the leading opponents of NAFTA in his run for the presidency in 1992.
NAFTA is proceeding right on schedule. It will take about five years for the damage to become obvious to everyone. In the meantime, the American people will be saturated with propaganda, half-truths and fairy tales by their own government. When a major event such as the devaluation of the Mexican peso occurs, little effort is made to tell the American people the truth because the truth isn't pretty. The peso devaluation is being blamed on the Chiapas uprising in southern Mexico.
BUSINESS
June 27, 2002 | SAM DAGHER, REUTERS
Mexico's peso closed on Wednesday at its weakest level since early 1999 and stocks hit new lows for the year on fear that the Mexican economy and markets may be hurt by fallout from U.S. accounting scandals. The peso shed 1.2% from Tuesday to close at 10.004 per U.S. dollar, its weakest level since Feb. 10, 1999, raising chances that Mexico's central bank would restrict liquidity in the local money market to support the currency and calm inflation fears.
BUSINESS
April 4, 2002 | CHRIS KRAUL, TIMES STAFF WRITER
The Mexican stock market is up a buoyant 13% this year, ranking it among the best-performing markets worldwide. The peso continues to defy gravity as interest rates fall and investors flock. theseQue pasa? Mexican markets are on a roll, buoyed by the country's improved image abroad and optimism that its economy is reviving after a yearlong recession, thanks to the beneficial effects of the nascent U.S. recovery. This year's stock market gains follow a respectable 13% bump in 2001.
BUSINESS
March 31, 1995 | Times Staff and Wire Reports
PepsiCo Hit by Peso's Fall: In one of the largest peso losses reported by a U.S. company, PepsiCo said it lost $275 million in assets from the decline in value of the Mexican peso in late 1994. The Purchase, N.Y.-based beverage, restaurant and snack food company made the disclosure in its annual 10-K filing with the Securities and Exchange Commission.
TRAVEL
April 13, 2003 | Arthur Frommer, Special to The Times
SEVERAL developments could affect the cost of your next vacation. Here's a look at some of them: * Currency: You've probably noticed the drop of the U.S. dollar against the euro (one euro now costs $1.07), which makes life on the Continent 10% costlier. But few Americans seem aware that the Mexican peso has weakened against the dollar in the last year. Now you get nearly 11 pesos for one U.S. buck (versus 9 pesos a short while ago), making Mexico an attractive vacation destination.
BUSINESS
February 26, 2003 | From Bloomberg News and Times Staff Reports
What ails U.S. markets also is taking a heavy toll on Mexico's currency and interest rates. The Mexican peso plunged Tuesday to an all-time low after a grim U.S. consumer confidence report raised the specter of weaker spending -- which could be troubling news for Mexico, the second-largest U.S. trading partner. The peso ended at 11.05 per dollar versus 10.99 on Monday. The currency has lost more than 6% of its value this year after sliding 13% last year.
BUSINESS
June 27, 2002 | SAM DAGHER, REUTERS
Mexico's peso closed on Wednesday at its weakest level since early 1999 and stocks hit new lows for the year on fear that the Mexican economy and markets may be hurt by fallout from U.S. accounting scandals. The peso shed 1.2% from Tuesday to close at 10.004 per U.S. dollar, its weakest level since Feb. 10, 1999, raising chances that Mexico's central bank would restrict liquidity in the local money market to support the currency and calm inflation fears.
BUSINESS
April 4, 2002 | CHRIS KRAUL, TIMES STAFF WRITER
The Mexican stock market is up a buoyant 13% this year, ranking it among the best-performing markets worldwide. The peso continues to defy gravity as interest rates fall and investors flock. theseQue pasa? Mexican markets are on a roll, buoyed by the country's improved image abroad and optimism that its economy is reviving after a yearlong recession, thanks to the beneficial effects of the nascent U.S. recovery. This year's stock market gains follow a respectable 13% bump in 2001.
BUSINESS
June 10, 2000 | JAMES F. SMITH, TIMES STAFF WRITER
Mexican authorities managed to calm the frazzled currency market Friday after a sharp plunge in the value of the peso this week, which was set off by concerns of possible political turmoil surrounding the July 2 presidential election. The peso strengthened somewhat Friday, closing at 9.89 to the dollar, but it still stood near its weakest level in 15 months after a long period of relative stability. On Thursday, the peso slipped as low as 10 to the dollar before closing at 9.
BUSINESS
September 4, 1998 | CHRIS KRAUL, TIMES STAFF WRITER
Latin American credit-worthiness was called into question Thursday as Moody's Investors Service downgraded Brazilian and Venezuelan bonds and issued warnings about Mexico and Argentina. The downgrades, on the heels of Colombia's decision Monday to devalue its currency, heightened jitters across the region and sent markets tumbling anew. "We think circumstances have fundamentally changed.
NEWS
January 17, 1995
Down, down, down. Although the Mexican peso, under attack for weeks, appears to have stabilized, precariously, with Washington's promise of up to $40 billion in loan guarantees, editorial cartoonists are still focused on the downside. Down Mexico way, prognostications are headed south. From France to Canada to Costa Rica, the pen-wielding critics were accentuating the negative.
ENTERTAINMENT
February 18, 1986 | From United Press International
City Hall authorized a 50% hike in the price of a ticket at the city's best movie theaters. The hike from 200 to 300 pesos, or from 42 cents to 64 cents, was authorized for 43 movie houses in the capital of 18 million people. The federal government owns most movie theaters in the country. The increase was condemned by labor unions, which pointed out that consumer prices jumped during January by 8.8% and that minimum wage earners are struggling on a daily salary of less than $3.
BUSINESS
May 27, 1998 | CHRIS KRAUL, TIMES STAFF WRITER
Latin American markets came under assault Tuesday in the biggest regional sell-off of stocks since the Indonesian economic crisis flared in January. Mexican, Brazilian and Argentine stock markets all took big hits, and the Mexican peso dropped to an all-time low of 8.77 to the dollar. The falloff was blamed on this week's surge in market volatility in South Korea, Russia and other emerging markets, prompting a renewed loss of confidence in most such markets.
CALIFORNIA | LOCAL
September 4, 1997
The economists are looking at the Mexican peso again, and many fear it is overvalued. What to do? This is not a decision to be taken lightly, not so soon after the catastrophic recession that befell the country when the currency was devalued three years ago. President Ernesto Zedillo blamed the earlier debacle on two main factors, a deficit in external current accounts and overvaluation.
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