Mexico finmin says any FX intervention would be rules-based
MEXICO CITY, March 21
MEXICO CITY, March 21 (Reuters) - Mexican finance minister Luis Videgaray on Thursday said his country will continue with its flexible exchange rate and that any intervention would be rules-based.
Mexico's peso hit its strongest levels in more than 1-1/2 years this week. Mexico has eschewed the direct intervention and capital controls that other emerging-market countries have used to tame currency gains.
Investors are watching to see if Mexico will reinstate a more market-friendly, rules-based mechanism of auctioning dollar "put" options, which could show authorities are growing uncomfortable with the pace of peso gains.
Videgaray was speaking at an event hosted by U.S. news agency Bloomberg in Mexico City.
- Islamic State threat 'beyond anything we've seen': Pentagon
- British Muslims blame jihadi subculture after beheading video |
- Israeli air strike kills three Hamas commanders in Gaza |
- U.S. aid workers who survived Ebola leave Atlanta hospital |
- National Guard to withdraw from riot-torn Ferguson, Missouri |