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The Mexican peso made a strong comeback against the United States dollar after seeing all time lows in June of 2012. According to a December 31st report by the Wall Street Journal, the bank of Mexico’s final reference price for the peso against the U.S. dollar is at MXN 12.8704.

2011 closed at 13.9725 pesos per U.S. dollar and by mid 2012 had weakened to 14.46.

According to Bloomberg News, Mexico’s 8.4% peso appreciation against the dollar is the highest for any major international currency in 2012.

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Comments

Visduh Jan. 1, 2013 @ 10:46 a.m.

This actually isn't good news for part of the Mexican economy, the part that exports. It makes exports more costly abroad. But in light of the politics in Mexico, I doubt that this rise in value as compared to the US dollar is any sort of reflection on the Mexican economy. More likely it is due to the continued and relentless debasement of the US dollar, largely engineered by the Federal Reserve in a desperate attempt to keep our economy out of depression. You may see the peso rise quite a bit in the next few months or couple of years, and it won't mean a thing about what's happening in Mexico.

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Founder Jan. 1, 2013 @ 11:03 a.m.

I believe that the newly elected Leadership in Mexico has tweaked the value of the peso to make it look better for this years end result, I expect the exchange rate to go upward not downward in 2013.

Now both the USA and Mexico have politically approved government adjusted currencies where once only Mexico did, this is yet another step in the Mexicanation* of the USA.

  • http://www.urbandictionary.com/define.php?term=mexicanation The shifting of Wealth of a Country like America, from BOTH the Middle Class and the once almost Rich to just the Ultra Wealthy; who will then control every facet of America's Government thanks to the SCOTUS's decision that makes it OK for them to donate to political campaigns!
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