Mexico peso weakens sharply, stocks fall 1 pct

MEXICO CITY, April 12 Fri Apr 12, 2013 11:21am EDT

MEXICO CITY, April 12 (Reuters) - Mexico's peso weakened sharply on Friday, extending early losses after unexpectedly weak March retail sales in the United States, Mexico's top trading partner.

The peso shed as much as 0.61 percent to 12.1114 per dollar, before bouncing back to trade just under 12.10 per greenback.

The IPC stock index fell 1.05 percent to 43,944 points as billionaire Carlos Slim's flagship telecommunications firm America Movil lost 2.5 percent.

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Comments (1)
funny_gringo wrote:
If the Mexican Peso sharply fell, why did the value of it raised up?

Apr 12, 2013 11:56am EDT  --  Report as abuse
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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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