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Mexico Peso Climbs to Strongest Since 2008 on IMF Credit Line

Mexico’s peso rose to the strongest level since October 2008 as the International Monetary Fund approved the largest credit line in the institution’s history, bolstering confidence in the nation’s economy.

The peso climbed 0.7 percent to 12.1348 per dollar at 5 p.m. New York time, the strongest level since Oct. 6, 2008, from 12.2141 yesterday. The currency has gained 1.7 percent this year against the dollar, the best performer among the 16 major currencies tracked by Bloomberg.