Today the Mexican Peso is trading at $12.62 MXN = $1 USD.
According to Bloomberg, the Mexican Peso saw its fourth consecutive week of gains, which is the longest streak since March.
The opposition party (PRI) is proposing a bill that would cut the value added tax (IVA in Spanish) which is currently at 16%. President Calderon had approved the increase from 15% to 16% at the beginning of this year, but the PRI is pushing hard for a reversal of this increase. Many experts suggest that such a move would mean confusion and suggest a weaker Mexican economy.