Mexico Extends Intervention After Currency Hits Record Low
- Banxico will continue $15 billion program through November
- Peso trims losses on announcement after earlier falling 0.9%
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Mexico will extend daily dollar auctions for two more months as global market volatility continues to pressure the most-traded emerging-market currency, its central bank said on Monday.
The peso trimmed losses after the statement was posted on Banxico’s website and was down 0.3 percent to 17.0183 per U.S. dollar as of 10:59 a.m. in Mexico City. It had earlier weakened as much as 0.9 percent.