Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Mexico’s Peso Falls as Global Growth Concern Outweighs U.S. Jobs

Mexico’s peso fell, wiping out gains that pushed the currency to its highest level in six months, as renewed concern about global growth outweighed a drop in the U.S. unemployment rate.

The peso fell 0.4 percent to 12.8106 per U.S. dollar at 3:17 p.m. in Mexico City, after earlier advancing as much as 0.7 percent and touching the highest intraday level since March 27. It has added 0.4 percent this week, the most among the six major Latin American currencies tracked by Bloomberg.

Spain has been deterred from triggering the European Union’s rescue mechanisms because of concern about how, and even whether, the process would work, Deputy Prime Minister Soraya Saenz de Santamaria said today. That’s helping fuel speculation that Europe’s debt crisis will drag on global growth, hurting the peso and other emerging-market assets, Ramon Cordova, a currency trader at Banco Base SA in San Pedro Garza Garcia, Mexico, said in a phone interview.

“The peso is already overloaded,” Cordova said. “The Spanish prime minister still hasn’t given signs that they’re going to ask for a rescue. You have some risk that something could happen over the weekend.”

The peso surged earlier after the unemployment rate in the U.S., the top destination for the Latin American nation’s exports, fell to the lowest since January 2009.

The U.S. jobless rate dropped to 7.8 percent from 8.1 percent, lower than the 8.2 percent median forecast of economists surveyed by Bloomberg. Mexico sends 80 percent of its exports to the U.S.

Yields on peso bonds due in 2024 dropped four basis points, or 0.04 percentage point, to 5.36 percent, according to data compiled by Bloomberg. The price increased 0.44 centavo to 141.45 centavos per peso.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.