The Mexican peso fell today, weakening past 14 per dollar for the first time since 2012. The currency declined on concerns that falling oil prices will deter investments in the country’s economy.
Mexico passed a law that will allow private firms to drill for oil, ending the government company’s monopoly. That should attract overseas investors to the country. Yet with the current slide of oil prices it is likely that foreign companies will not be in a hurry to take the opportunity.
USD/MXN advanced from 13.9821 to 14.1055 as of 18:36 GMT today.
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