Mexican peso hits 4-month low ahead of NAFTA talks

The dollar closed at MXN$ 18.95 pesos, according to data from Citibanamex
File Photo/EL UNIVERSAL
09/10/2017
19:45
Reuters
Bruno Federowski
-A +A

On Monday, Mexican peso slipped to its weakest in more than four months, mirroring a fall in other Latin American currencies, ahead of the latest round of talks over the North American Free Trade Agreement (NAFTA).

Fears of increased American protectionism have hit the Mexican peso particularly hard as the United States purchases over three-quarters of Mexico's exports.

On Wednesday, Trade officials from Mexico, the United States, and Canada meet in the Washington area for the fourth round of talks on renegotiating NAFTA amid signs of increasing tension over the accord between Mexico and the administration of the U.S.

Investors also follow closely the information on 2018 Mexico's Presidential Elections.

The peso was trading at MXN$ 18.6435 per dollar, with a depreciation of 0.55%, or MXN$ 10.15 cents, compared to MXN$ 18.542 of Friday's benchmark Reuters price.

At bank windows, the dollar closed at MXN$ 18.95, according to data from Citibanamex.

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