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The 1982 Mexican peso devaluation and border area employment. - Monthly Labor Review | Encyclopedia.com Pressure on the Mexican Government to encourage exports and discourage imports increased, and the peso was devalued in February 1982. The Mexican Maquiladora Program, initiated in 1965 to stimulate the development of Mexican border areas, is a large source of foreign exchange and border area manufacturing employment. The peso's buying power relative to the dollar is a function of the peso-dollar exchange rate and the differential in the two domestic rates of inflation. www.encyclopedia.com /doc/1G1-3957292.html   (4248 words)

Mexican peso - Wikipedia, the free encyclopedia The Mexican peso was the official currency for much of North America until the United States dollar began to be issued in 1785. One new peso, or N$1.00, was equal to 1,000 of the obsolete MXP pesos. In 1957, the peso was dropped to.100 silver, the denomination and date moved to the obverse, and a new portrait of Morelos appeared. en.wikipedia.org /wiki/Mexican_peso   (1932 words)

Philippine peso - Wikipedia, the free encyclopedia PNB notes were printed in 1916 in 2, 5 and 10-peso denominations, followed by a one-peso denomination in 1918, the twenty-peso denomination in 1919 and the fifty and one hundred-peso denominations in 1920. By 1964, the bullion value of the old silver pesos was worth almost twelve times their face value and were being hoarded by Filipinos rather than being surrendered to the government at face value. The peso has been a floating currency ever since, which means that the currency is a physical representation of the domestic debt and whose value directly tied to people's perception of the stability of the current regime and its ability to repay the debt. en.wikipedia.org /wiki/Philippine_peso   (2596 words)

Excerpt - Council on Foreign Relations Mexican investors, less myopic and better informed than their foreign counterparts, adjusted as it became clear that certain currency shocks were not transitory. To make matters worse, investor confidence was shattered by contradictory signals from the Mexican government before and immediately after the devaluation, the governments failure to propose credible measures to rein in domestic demand and tighten monetary policy, and the conspicuous absence of measures to stabilize the value of the peso. In the Mexican case, the issue appears to have become less critical, at least for the time being, because markets have forced the Mexican authorities to expand the timeliness and scope of their data releases. www.cfr.org /publication/132/lessons_of_the_mexican_peso_crisis.html?excerpt=1   (9668 words)

Mexican Peso Mexican peso is the national currency of Mexico and is denoted with a "$" sign officially. Mexican peso banknotes are issued in 6 denominations that are 20, 50, 100, 200, 500 and 1000 pesos. Mexican peso stayed stable during most of the 20th century and was counted among the strongest currencies in the world. www.crnindia.com /currency/mexican_peso.html   (1260 words)

MEXonline.com Mexican Peso Exchange Rates, with graphical charts Number on the right is how many pesos per dollar, number on the bottom is the day of the month. Chart shows the annual Mexican peso exchange rate with the US Dollar, with a line marking January 1st. Number on the right is how many pesos per dollar, the vertical line down the chart shows the start of the new year. www.mexonline.com /mexicanpeso.htm   (135 words)

Mexican peso - Wikipedia, the free encyclopedia   (Site not responding. Last check: ) Since the peso was a coin of pure silver with an exact weight, it became very popular: Mexican pesos could be found in China and the Philippines. After a decree adopted by the United States on 6 July 1785, the peso became the official system of all North America; it also became the foundation for the U.S. monetary system, at a rate of one peso to one dollar. The US dollar was not issued until 2 April 1792, but the peso continued to be officially recognised and used until 21 February 1857. www.newalbany.us /project/wikipedia/index.php/Mexican_peso   (1067 words)

The Mexican Peso Crisis   (Site not responding. Last check: ) The Mexican economy is, in total, about the size of the economy of Los Angeles: small relative to the economy of the U.S. The net benefits from NAFTA estimated by honest think-tanks were always less than the month-to-month errors in economic statistics. Part of the Mexican government's strategy for retaining confidence in its stable exchange rate throughout 1994 was to replace conventional short-term borrowing with the famous "Tesebonos", a short-term security whose principal was indexed to the dollar, as a means of retaining the funds of investors who feared devaluation. Moreover, the Mexican political system may collapse under the strains of development and political liberalization with the extra burden laid on by the consequences of the peso crisis. www.j-bradford-delong.net /Econ_Articles/themexicanpesocrisis.html   (6275 words)

Mexican peso gains buoy other markets   (Site not responding. Last check: ) The peso closed 15 centavos higher at 7.09 to the dollar, although some analysts said the beleaguered currency is not yet out of the woods. Mexican stocks rallied on the back of peso gains, rising more than 2 percent as investors swooped in to look for bargains after share prices dropped 6 percent earlier in the week. Some analysts said the peso's gain was just a technical rebound after Thursday's losses and warned the battered currency will still be haunted by doubts about the economy and the government's ability to drag it out of recession. www.chron.com /content/chronicle/business/95/10/28/mexico.html   (432 words)

Mexican stocks, peso both enjoy advances   (Site not responding. Last check: ) Everyone became bullish that the peso's gains means that the markets are entering a less volatile, more realistic stage," one trader said. Mexico's beleaguered peso had its second day in a row of gains against the dollar, allowing secondary interest rates to fall and fueling hopes of a market recovery that could open the door to eventual economic growth. Mexican Finance Minister Guillermo Ortiz told Congress he was confident Mexican markets would recover from what he said was temporary speculation. www.chron.com /content/chronicle/business/95/11/18/peso.html   (256 words)

THE MEXICAN PESO CRISIS-DOUGLAS W. ARNER , the Mexican devaluation of the peso in December 1994. Further, the Peso Crisis underlines the need for a coherent international response to similar problems likely to develop in other emerging markets in the future, given that the highly mobile nature of international capital flows is unlikely to slow and in fact may increase. The discrepancy between the stated exchange rate policy of the Mexican government throughout most of 1994 and its devaluation of the peso on December 20, along with its failure to announce any appropriate economic policy measures, significantly reduced investor confidence in the newly elected government and increased fears that default was imminent. iibf.law.smu.edu /pub/doug1a.htm   (9402 words)

Issue 5, 1996 - Southwest Economy - FRB Dallas Another was the sharp drop in the value of the peso in December 1994 and subsequent fall in Mexican output. It is unlikely that all the increased Texas import growth in early 1995 is attributable to the peso crisis. Mexican industrial production, the real value of the peso and Mexican trade with the rest of the world are estimated with a second-order autoregressive model that includes a dummy variable for the peso crisis. www.dallasfed.org /research/swe/1996/swe9605.html   (4072 words)

Finance in the News: Mexican Peso Holds Its Own The Mexican peso has been gaining on the U.S. dollar for two years now, which is a significant improvement since its crash in 1994-95. The strength of the peso is also believed to be a factor of the strong Mexican ties to the U.S. economy and the confidence in the new president. On the downside, the president's tax plans could fail while exports are slowing due to the strong peso and imports are increasing. www.swlearning.com /finance/finance_news/peso_holds_own.html   (229 words)

Challenge: The Missed Lessons of the Mexican Peso Crisis The author argues that the Mexican peso crisis of the mid-1970s was a direct forerunner of the Asian crises of 1997. As the Mexican equity market was the recipient of much of the net portfolio investment inflows, the Mexican stock market boomed--the Bolsa index rose 436 percent in dollar terms over the period 1990-93 (IME 1995, 53). As the financial hemorrhage (now christened the Mexican peso crisis) deepened, it became evident (at least by mid-January 1995) that a virulent contagion, the so-called tequila effect, was beginning to take its toll on neighboring countries and threatening to engulf the entire region. www.findarticles.com /p/articles/mi_m1093/is_1_44/ai_71359950   (1069 words)

Business Economics: The Mexican peso crisis: impact on NAFTA and emerging markets The effects on Mexico have been severe: an economic contraction at a 5 percent rate is predicted for the first half of 1995, improving to a contraction at a 2 percent rate during the second half of the year and positive growth, as high as 4 percent, in 1996. Probably the industry most affected by the crisis was the Mexican banking sector, which suffered under the combined effects of a recession and the extremely high interest rates imposed after the devaluation as an incentive to attract foreign savings. In response to the crisis, the Mexican government introduced programs to assist the beleaguered banking system where a wave of mergers and cases of default are expected. www.findarticles.com /p/articles/mi_m1094/is_n3_v30/ai_17221265   (1247 words)

The Mexican Peso Crisis The Mexican economy is, in total, about the size of the economy of Los Angeles: small relative to the economy of the U.S. The net benefits from NAFTA estimated by honest think-tanks were always less than the month-to-month errors in economic statistics. Mexicans were taking the additional money foreign investers offered, but they were using it to finance increased consumption rather than increased investment. Part of the Mexican government's strategy for retaining confidence in its stable exchange rate throughout 1994 was to replace conventional short-term borrowing with the famous "Tesebonos", a short-term security whose principal was indexed to the dollar, as a means of retaining the funds of investors who feared devaluation. econ161.berkeley.edu /Econ_Articles/themexicanpesocrisis.html   (6275 words)

Perspectives in Numismatics - A Coin Called Peso The first coin with the legend UN PESO was a silver piece struck in 1817 by Chile, followed by a second from Uruguay in 1844. In 1874, a curiosity was struck with the denomination Un Peso. It is known as Peso de Balanza, "scale peso." It is because of their appearance during the time of Maximilian that some people have the erroneous impression that he brought the decimal monetary system to Mexico. www.chicagocoinclub.org /projects/PiN/ccp.html   (3408 words)

Mexican Peso and Mexican currency information including currency exchange rates The peso continued to be officially accepted in the U.S. until 1857, and in Canada until 1858. The peso was a very stable currency experiencing very little inflation until the 1970s when Mexico experienced an oil crisis and was forced to default on its external debt in 1982. During this time, the Mexican government let the peso float, removing the crawling peg that had previously been in place, which resulted in it depreciating to half of what it had previously been worth. www.gocurrency.com /countries/mexico.htm   (781 words)

Mexican Peso Quietly Gains on Dollar (iShares MSCI Mexico Index, CurrencyShares Mexican Peso Trust) at SmartMoney.com Given the negative attitudes harbored by many Americans about most things Mexican, it might come as a surprise that the Mexican economy, at least as evidenced by the performance of its financial markets, is even more attractive than that of the good ol' USA. Mexican stocks, as tracked by the iShares MSCI Mexico Index ETF (EWW), are up almost 60% in the last two years, handily surpassing the single-digit gain for the S&P 500. My interest, however, isn't in Mexican stocks, but its currency, which collapsed amid a monetary crisis in 1994 and, although recently stable, is among the few world currencies that hasn't posted strong gains against the greenback. www.smartmoney.com /tradecraft/index.cfm?story=20080414-mexican-peso   (1254 words)

mexican peso Colombia's peso also plunged to a new all-time low against the dollar, falling 51 pesos on the dollar to 1,605. "The Mexican peso is once again the victim because speculators are taking advantage of the liquidity in the foreign exchange market," said Juan Pablo Chavez, economist with IDEA in New York. The leading IPC Mexican stock index fell 84.41 points, or 2.44 percent, to 3,375.23 at the opening bell, immediately shattering support traders had hoped for at the 3,400 level. www.her.itesm.mx /home/ppenia/mexicanpeso.htm   (306 words)

Bloomberg.com: Latin America Earlier, the Mexican peso fell as much as 0.7 percent to 11.4730, weaker than the previous low of 11.4578 reached in intraday trading on Nov. 28. Mexican exports, which account for more than a quarter of the country's $626 billion economy, Latin America's largest, rose in March to a record high, climbing 20 percent from the year- earlier period to $16.58 billion. Tenengauzer expects the peso to rise from current levels as the Mexican central bank continues to cut overnight lending to banks in a bid to raise interest rates and curb inflation. quote.bloomberg.com /apps/news?pid=10000086&sid=am5GUs5Q6wE4&refer=news_index   (507 words)

Mexico Mexican Money Currency Bank Notes Exchange Banks ATMs Safety The symbol for the the Mexican Peso is $. Mexican cent coins are minted in denominations of 5, 10, 20 and 50 centavo (cent) pieces; however, it's very rare to see coins of less than 50 centavos these days. Peso coins in denominations of $1 $2, $5, and $10 are used frequently in Mexico, especially for paying small tips. www.mexperience.com /guide/essentials/money.htm   (2812 words)

Nov 7, 2006 The Destruction of the Mexican Peso 1910-2006 Hugo Salinas Price 321gold From 1572 (perhaps even earlier) and up to 1914, the silver content of the Mexican Peso (which during the Spanish Colonial era was known as the "Piece of Eight Reales") was held to a remarkably stable standard: 24.44 grams of pure silver. The Peso's silver content was reduced from 24.44 grams, where it had been for 342 years, to 14.5 grams. Consequently, only ever smaller quantities of silver could be used to mint the Peso coins; the latest coins include only microscopically small amounts of silver in the Peso, the humble descendant of what was, in other times, the world's most important currency. www.321gold.com /editorials/price/price110706.html   (962 words)

Peso bailout file Since the Mexican government stopped its artificial support of the Mexican currency, the peso has lost approximately 40 percent of its value. In response to the peso crisis in Mexico, the U.S. government has extended a line of credit of $9 billion dollars for the Mexican government to draw on to buy pesos in order to strengthen the value of the peso. The Mexican government will use the proceeds of the $40 billion dollar bond sale to repay the $28 billion dollar, 20% interest, short term bonds that are now due and use the remainder of the money at their own discretion. www.uwsa.com /issues/peso/mex-a.html   (1240 words)

NCPA - Daily Policy Digest - The Mexican Peso and Emigration Mexican emigration has been a boon for the United States, says Mary Anastasia O'Grady, but an enormous loss for Mexico, breaking up families and stripping the country of human capital. Ever since the 1994 peso crisis, which ended in a collapse of a 3-1 fixed exchange rate with the dollar, Mexico's central bank has been wedded to a "floating" exchange rate. Less than a year ago, it took nine Mexican pesos to buy a dollar; but by yesterday afternoon, the cost of a greenback was up to almost 11. www.ncpa.org /iss/int/2003/pd020703b.html   (335 words)

Bloomberg.com: Latin America Mexican Finance Minister Agustin Carstens detailed the need for fiscal reform, which included reducing dependency on oil export revenue and improving tax collection methods on April 18 during a press conference. A tumble in volatility on peso options, to the lowest level in almost two years, has made prices cheaper and options a more attractive way to capture gains if the peso appreciates, said Kemen of Lehman, the fourth largest U.S. securities firm. Implied volatility on the one-month options on the peso against the dollar fell to as low as 5.6 percent on May 4, the lowest rates since June 2005. www.bloomberg.com /apps/news?pid=20601086&sid=ar7Vmx1b46eM   (727 words)

Mexican Peso Crisis of 1994-1995 Whereas the financial crisis in Mexico in 1982 had to do with external debt and took a long time for recovery the peso crisis of 1994 had little to do with external but instead was due to a short-term foreign exchange problem that was handled relatively quickly. The outgoing president did not want to devalue the peso during his term of office and the devaluation was postponed until it was unavoidable. Furthermore, those with funds held in Mexico, Mexican and otherwise, could see that a devaluation was likely and began converting their peso assets into dollar assets. www2.sjsu.edu /faculty/watkins/mexico95.htm   (588 words)

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