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...The IMF forecasts Mexican economic growth this year of 3.2 per cent — healthy but hardly the tempo of a booming economy....
...One US dollar bought 18.92 pesos on Friday afternoon, leaving the Mexican currency 1.2 per cent weaker on the day and 2.4 per cent softer over the past week....
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...The cuts could cost as much as $1.8bn, Citi said on Friday, but save as much as $2.5bn a year by 2026 when they are due to be completed....
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...They said, ‘We can’t change the data in the system, but we can offer you $2 because you went there.’ I spent 20 minutes biking there and 45 minutes on the phone to them, and they gave me $2.”...
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...Currencies such as the Brazilian real, the Mexican and Colombian pesos, and the Polish zloty have all appreciated strongly against the dollar....
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...The words to a popular Mexican song run across the top of the frame: “Now that you are without hair, I don’t love you any more.”...
...A version of this article was first published by Nikkei Asia on December 18. ©2023 Nikkei Inc. All rights reserved....
...William Langley Can the Mexican peso continue its run?...
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...Industrial real estate is expanding, yet at the same time vacancy rates are below 2 per cent....
...Mexican president Andrés Manuel López Obrador’s fiscal austerity has also helped prop up the peso....
...The central bank has traditionally preferred a weak peso because it raises the value of remittances from overseas workers....
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