Bank of Mexico is betting $8.6 billion on ending peso’s plunge

Bloomberg – Mexico is taking unconventional steps to shore up the peso after painting itself into a corner with record low interest rates and signals it will hold them there until the Federal Reserve makes a move. The Bank of Mexico said Thursday that it will spend at least $8.6 billion in the next two months to prop up the currency, which has plunged to a record low amid an emerging-markets selloff.

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