Monday, September 19, 2011
Rising U.S. Dollar continues pushing Peso
I reported on this subject just last week, but the news is still good for holders of U.S. dollars who want to spend them in Mexico. As markets closed for the day the dollar brought a low of 12.85 and a high of 13.43 pesos in some institutions around the country. The lower number represents the exchange rate for sellers, and the higher number for those wishing to buy dollars. The explanation for today´s sustained upward movement is the same as last week -- a falling Euro brought on by lack of confidence in the ability of European nations to restructure sovereign debt, especially Greece and Italy.
at 4:22 PM