Mexico's peso slumps to record low as global markets sink

Mexico's peso tumbled to a fresh record low on Thursday as investors dumped riskier assets around the world due to fears of about a global economic slowdown and stress in the banking system.

The peso sank 1.5 percent to 19.2225 per dollar, its lowest since a 1993 revaluation, weakening even as the central bank sold US$400 million in two auctions.

The peso has weakened for the last six sessions, plunging about 5.5 percent.