Mexico Peso Falls Most in a Month as Spain Downgraded by S&P
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Mexico’s peso fell the most in a month after Standard & Poor’s downgraded Spain two levels, deepening concern that Europe’s debt crisis will curb global growth and erode demand for Latin American exports.
The peso slid 0.8 percent to 12.9774 per U.S. dollar at 4 p.m. in Mexico City, its biggest one-day drop since Sept. 10. Its 7.4 percent advance in 2012 is still the most among the dollar’s 16 most-traded counterparts.