MEXICO CITY, March 21 Mexican finance minister
Luis Videgaray on Thursday said his country will continue with
its flexible exchange rate and that any intervention would be
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.