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Article: Peso goes south: Currency's plunge could hit Americans in pocketbook.(Originated from Orange County Register)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- November 9, 1995
- Author:
CopyrightCOPYRIGHT 1995 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The plunge of the Mexican peso against the U.S. dollar worries investors and labor unions but could prove a boon to American consumers and some manufacturers.
The Mexican currency dropped Wednesday to a record low of 7.8 pesos to the dollar, or 12.8 cents each. It strengthened Thursday to close at 7.6 pesos.
Here are the answers to some commonly asked questions about the peso's decline.
Q. So the peso dropped against the dollar. Why should I care?
A. Because the Mexican currency's plunge could affect your pocketbook, for better and for worse.
Mexican-grown produce such as tomatoes, peppers and chiles should become cheaper at your ...