Bank of Mexico expands dollar sales to stabilise peso
Central bank’s first round of auctions have so far only been triggered twice
The Bank of Mexico will expand its dollar sales to support the peso, it was announced today, after the currency reached new lows against the dollar this week.
The central bank began the new programme today and will offer $52 million in daily auctions, which will have no minimum price, until June 8. The authorities will then reflect on the policy, according to a statement published by the Mexican currency commission.
The Bank of Mexico has already committed to offering $200 million through
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