Banxico Auctions Another $6bn

Banxico Tuesday announced that it made two auctions worth a total of $6bn, the first at an exchange rate of MXP12.86 and the other at a rate of MXP12.76 per dollar. The news comes after the bank auctioned $400m at an exchange rate of almost MXP13 per dollar a few days earlier. Mexico’s peso snapped back before closing at MXP12.44. The currency has firmed off last week’s trough of MXP14.35/USD.