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Article: Mexico to Maintain Floating Exchange Rate
- Article from:
- Xinhua News Agency
- Article date:
- April 15, 1996
CopyrightCopyright 1996 Xinhua English Newswire. Provided by ProQuest LLC. (Hide copyright information)
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Mexico will keep its floating exchange rate in a bid to reduce
inflation, Central Bank governor Miguel Mancera said here today.
Addressing a meeting of the Mexican Stock Exchange, Miguel
Mancera
rejected the idea of a fixed exchange rate, but he admitted the
floating exchange rate also produces diverse problems.
He emphasized that monetary policy should aim at lowering
inflation, stabilizing the purchasing power of the national currency
and contributing more effectively to economic development.
On the prospect of inflation, the Banco de Mexico official
predicted that the inflation rate in April will not be as high as
mentioned in many forecasts.
"In fact, according to the information ...