Thursday, August 26, 2010

Weekly Currency Update: Mexican Peso

The Mexican Peso is currently trading at $12.96 MXN = $ 1 USD. 

Some events that affected the economy/business environment:

-Sales of existing homes in the United States fell sharply last month
-Mexican retail sales rose 1.5% in June (year over year)
-Slowing US Economy will curb demand for exports from Mexico
-Mexican's tourism sector is starting to see a comeback (35% increase in international passenger traffic in June)

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