October 29, 2018 / 1:35 PM / 8 months ago

Mexico's peso falls to 4-month low after vote to cancel new airport

MEXICO CITY, Oct 29 (Reuters) - The Mexican peso fell to its weakest level against the U.S. dollar in four months on Monday morning after Mexicans voted to scrap a partly built $13 billion new airport for the capital in a divisive referendum pushed by President-elect Andres Manuel Lopez Obrador.

The peso was trading down at 19.6767 to the dollar, down 1.66 percent in early Monday morning trade, recovering some of its earlier losses when it fell over 2 percent to its worst level since July 3.

Called a “public consultation,” the vote was nonbinding, but leftist Lopez Obrador, who had called for the referendum and was against the new airport, has pledged to respect the result. (Reporting by Miguel Angel Gutierrez Writing by Anthony Esposito editing by Jonathan Oatis)

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