Reported 7 months ago
The Mexican peso continued to weaken as Mexico's incoming President Claudia Sheinbaum, who won the recent election, vowed to proceed with about 20 constitutional changes initiated by outgoing President Andrés Manuel López Obrador. Despite attempts to reassure investors, Sheinbaum reinforced the reforms, including proposals to make judges stand for election and adding more benefit programs. The peso fell by about 1% to 18.49 to $1, marking an 11% decline against the dollar since late May. Market concerns also include a 6% GDP deficit, high inflation, and debt payments to the state-owned oil company, Pemex.
Source: YAHOO