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Article: Peso's Slide Pinches Mexico.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 18, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. 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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By Jenalia Moreno, Houston Chronicle Knight Ridder/Tribune Business News
Jan. 18--MEXICO CITY--Until recently, Mexico City daily newspaper Reforma included a drawing of a caped hero nicknamed Superpeso with all of its articles about the Mexican peso. The peso was flying high as one of the world's strongest currencies.
Then Superpeso's steady course ended as it met its archenemy -- the weak U.S. economy that has dragged down the economy here.
The fall of Mexico's peso quickened Friday, as it dropped to a four-year low and pushed Mexican stocks down as well. The bolsa index closed down 127.5 points, or 2 percent, to 6,204.46.
In ...