SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Woody who wrote (12377)2/21/2017 5:16:19 PM
From: John Pitera2 Recommendations

Recommended By
ggersh
The Ox

   of 12390
 
Mexico to offer up to $20 billion in forex hedges to aid battered peso

Tue Feb 21, 2017 | 3:10pm EST

Mexico's foreign exchange commission said on Tuesday it will offer up to $20 billion in currency hedges as it seeks to tame volatility it said has unfairly battered the peso.

"In the last months, the peso exchange rate against the U.S. dollar has shown high volatility that is not consistent with the country's economic fundamentals," the commission said in a statement.

The FX commission is made up of top officials from the central bank and the finance ministry.

The commission said the program will not use the central bank's international reserves, suggesting it will be similar to derivatives offered by Brazil's central bank.

The commission said the first auction of the new instruments will be on March 6 for up to $1 billion.

The country's peso has repeatedly fallen to record lows since last year, deepening losses after the election of Donald Trump as U.S. president due to his threats to impose trade barriers on U.S.-bound Mexican goods.

reuters.com

-------------------

a swift 2% advance in the Peso in a few minutes..... how many people were front running that move!
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext