Mexican peso devaluation

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Mexican peso devaluation

Mexican peso devaluation

As of the time of authoring, the peso had gained back a little to Although the biggest threat to the health of the Mexican economy remains proposed trade changes that may come with the new president in the weeksahead, we now have very real economic forces pushing the value of the peso downward.

This week as Mexico is bracing for "Trumpact" and changes the new American president will inflict on the country it is also adjusting to dramatic changes in fuel costs and future fuel policy. With trade restrictions, slowing economy and rising fuel prices the Mexican economy is going to face a challening This trade imbalance will eventually come home to roost on the US economy.

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It all began June 1, The original edition of this article was posted here a few more days than two years ago in December of The seemingly endless rise of the dollar against the peso had begun, along with nearly every other world currency on June 1, Particularly hard hit were the currencies of oil-producing nations including Mexico.

It was an economic war, caused by the overproduction of crude oil by the US and Saudi Arabia. The most likely intended victims were Russia and Iran, But there have been a lot of collateral damage countries, including Brazil and Mexico.

There were several dips of the peso against the dollar throughout the US presidential campaign. On January 1,the price of gasoline and diesel rose significantly. Mexicans refer to this as "Gasolinazo", roughly meaning being screwed by gasoline prices. This caused widespread demonstrations across Mexico, blockage of highways and Pemex facilities and on the Mexican mainland, it resulted in the looting of more than stores and arrests.

Here in Baja, a protester rammed his vehicle into a barricade and group of police, resulting in the serious injury of one officer at the Rosarito Pemex Distribution Facility.

There were spotty closures and shortages, particularly in Mexicali. Roadblocks continued into Tuesday the 10th in Baja California Sur, of the Pemex facility and the route to the major port of Pichilingue. But no shortages or violence was reported. On January 5, President Nieto addressed the nation and tried to provide as he described it, an "ample answer".

He explained that the price increase was necessary to avoid the government having to subsidize fuels and incur a significant cost that would either reduce social programs or increase the national debt.

Oil has replaced gold as the trade standard and that trade standard is priced in US dollars.The Mexican peso tumbled by the most since the post-Tequila Crisis currency gyrations in as Donald Trump was elected US president.

USD to --- Chart

The peso had become a prime gauge of Mr Trump’s. peso devaluations-that resulted in depressed economic ac- Louis Harrell and Dale Fischer are economists in the Office of Employment and Unemployment Statistics, Bureau of Labor Statistics. Mexican peso sinks to new low as uncertainty hangs over Trump victory The peso lost more than 3% to trade around per dollar.

one of its biggest ever slumps since a devaluation.

What’s Behind the Volatility of Mexico’s Peso? - [email protected]

irs filing requirements when a u.s. citizen or expatriate owns all or part of a foreign (offshore corporation) by don d. nelson, attorney at law, c.p.a. Mexican Peso The USDMXN spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the MXN.

While the USDMXN spot exchange rate is quoted and exchanged in the same day, the USDMXN forward rate is quoted today but for . Peso Devaluation Spurs Many Mexican Firms to “Act Now” Mexico's peso devaluation is having a mix of good and bad effects on businesses of all sizes as they prepare for the currency's continued free-fall.

Mexican peso devaluation
Economy of Mexico - Wikipedia