Mexican Peso Climbs on Prospective Foreign Investors

The Mexican peso had another day of advance as commodities rose globally and speculations that foreign investors will purchase the nation’s bonds helped the Latin American currency to extend its rally for another day in foreign-exchange markets.

A combination of two distinct factors helped the peso to gain for a fourth day versus the U.S. dollar as the country’s bonds are likely to be included in the Citibank global bond index and the crude oil rose, rising odds that international capital inflows are likely to increase in the Mexican economy, allowing the peso to continue its previous week advance today in currency markets.

USD/MXN traded at 12.86 as of 23:52 GMT from an opening rate of 12.91 this Tuesday.

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