Mexico Moves to Support Peso For Third Day as Currency Tumbles

Mexico’s central bank held an extraordinary dollar auction for a third consecutive day to support the peso as the local currency tumbled to the lowest level in a month amid an emerging-market selloff.

Policy makers sold an extra $200 million today, following similarly-sized auctions Monday and Tuesday. Still, the peso fell 1.3 percent to 17.1113 per dollar, reaching what would be the lowest closing level since Aug. 25.