Mexico auctions $3 billion in foreign reserves
Published October 10th, 2008
Mexico’s central bank has auctioned US$3 billion in foreign reserves, its third auction today in a bid to make the peso stronger.
The peso began its steep fall Wednesday morning, when it dropped to a record of below 14 against the U.S. dollar.
The Mexico stock exchange registered its largest fall in eight years, following the rejection by the US Congress of the first financial rescue plan.
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