April 13, 2003 |
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.
February 26, 2003 |
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.
June 27, 2002 |
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.
April 4, 2002 |
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.
June 10, 2000 |
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.
September 4, 1998 |
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.