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Dollar auction helped stabilize Mexican peso

Monday, January 19, 2015

A dollar auction program run by Mexican authorities has helped stabilize the country's peso but policymakers could go further and raise interest rates if weakness in the currency fans inflation, Central Bank Governor Agustin Carstens said in an interview.

Mexico's currency commission, run by the finance ministry and the central bank, restarted the dollar auction program last month to support the peso after it had fallen sharply.

Source: Reuters