Economics
Mexico’s Peso Plunges as Trump Victory Casts Doubt on Trade Ties
- Currency tumbles most since 2008 to the lowest on record
- Peso most vulnerable currency to protectionist U.S. policy
How Investors Are Reacting to the Election Results So Far
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The peso tumbled to a record as Donald Trump’s victory in U.S. presidential elections raised the prospect that two decades of Mexican economic integration with its northern neighbor will unravel.
The currency sank 9.3 percent to 20.2044 per dollar at 8.37 a.m. in New York, after earlier dropping as much as 12 percent as election results showing Trump triumphing over Democratic candidate Hillary Clinton shocked traders. Mexico’s central bank governor and finance minister, speaking at an early morning news conference, said the country’s finances were solid and trading has been orderly. They refrained from announcing any measures to support the peso.