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Mexican peso falls again amid Trump concerns

The currency of Latin America`s second biggest economy traded hands at 21.05 pesos for every dollar, dropping 0.48 percent from 20.95 late Wednesday.



Mexico city: The Mexican currency broke the 21 peso per dollar psychological barrier again on Thursday in the wake of Donald Trump`s US election victory as fears persist about his protectionist policies.

Analysts say the peso is also affected by the prospect of an interest rate hike by the US Federal Reserve in December.

The currency of Latin America`s second biggest economy traded hands at 21.05 pesos for every dollar, dropping 0.48 percent from 20.95 late Wednesday, according to private bank Citibanamex.

The peso had previously passed the 21 mark on November 11, shedding 14 percent three days after the US election, but hovered around 20 pesos the last few days.

Markets are nervous about the effect of Trump`s protectionist policies, including his vow to renegotiate the North American Free Trade Agreement, make Mexico pay for a huge border wall and block remittances sent by migrants to their homeland.

The Mexican central bank lowered its growth forecasts on Wednesday, citing concerns about trade barriers.

From Zee News

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