Peso hits all time low

The peso revalued to 16.10 at 0530 Friday after a slump to 16.58 on Wednesday. Figures are from Banxico Banco Nacional de Mexico. A three hundred million dollar peso purchase by Banxico facilitated the slight recovery. The protocol instituted by Guillermo Ortiz previous director of Mexico's Fed, is still being practised, years after his retirement. Mexico has one of the most actively traded currencies in the world. Pressure on the EU coupled with the economic crisis in China flavored with long term uncertainty with the USA's prime interest rate plans make forecasting the valuation of the peso is risky. If Banxico so chooses a valuation gain of one full peso would not be unlikely if pressure on the peso falls to near nil. It would take a billion dollar injection to do this and the presidential scandals of Enrique Pena Neto makes such a move unlikely. USA fracking has devastated Pemex exportation revenue. Mexico's economics is a maze.