Saturday 25 May 2013
Ciudad Juarez, Chihuahua.- Due to the crisis in Europe, the Mexican Peso/US Dollar rate of exchange climbed yesterday to 13.90 at some banks in Ciudad Juarez. In just two days the foreign currency went up 45 cents, since last Friday the average rate of exchange was MXP$13.45 for US$1 at banks. In retail operations, the US Dollar went from MXP$13.48 to MXP$13.70, for a 22 cents increase.
In the interbank market the US Dollar moved up 38 cents, going from 13.29 on Friday to 13.67 yesterday, the highest rate of exchange in July.
Miguel Angel Calderon Rodriguez, Vice-President for the State of Chihuahua Economists Association, said that the rate of exchange is fluctuating due to pressures from Europe, as well as slower growth in China and coming elections in the USA.
Mr. Calderon further added that local economy is hardly beaten when the US Dollar goes up, because many companies and families must meet commitments in US Dollars, which upsets their finances.
| MORE NEWS |
