Mexican Peso Likely Can Appreciate More, Finance Head Says
- Economic fundamentals suggest currency’s gains may not be over
- Nation’s credit profile better now than it was a year ago
Mexican one thousand pesos bills are run through a counting machine inside a currency exchange store in Mexico City, Mexico, on Feb. 15, 2016.
Photographer: Susana Gonzalez/BloombergThis article is for subscribers only.
Mexico’s economic fundamentals suggest that the peso still has room to appreciate after its world-beating rally from a record low at the start of the year, according to the nation’s finance minister.
The peso’s 17 percent surge from its weakest level on Jan. 11, more than double the gain for any other major currency, reflects both Mexico’s growth potential and the overreaction by investors in the first days of 2017, Jose Antonio Meade said in an interview in Washington.