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Mexico's peso has room to strengthen further - Carstens

04/03/2016
17:44
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The central bank in February surprised markets by delivering a 50 basis point rate hike and unleashing a new programme for direct market intervention.

Mexico's peso, which has been hammered by tanking oil prices, still has room to strengthen, Central Bank Governor Agustín Carstens said on local radio on Friday.

To protect the peso from a deeper slump, the central bank in February surprised markets by delivering a 50 basis point rate hike and unleashing a new programme for direct market intervention.

However, Carstens said the bank had not had to intervene in markets since the February announcements.

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