Mexico’s central bank (Bank of Mexico) said on Thursday that it is selling dollars in response to a weakening of the peso, which hit a record low on Wednesday.
Juan Garcia, director of national operations for the bank, confirmed the sales, but declined to specify the amount.
The peso currency reversed losses to gain more than 1 percent following the sales.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.