Tuesday, August 19, 2014

Mexico has big bucks banked - mostly greenbacks

Guadalajara -
Mexico's U.S. currency on hand rose $48 million U.S. dollars last week, leaving it with a tidy net balance of $190.552 billion dollars available for those rainy days.

The numbers were reported in a press release today by the the Bank of Mexico (Banixco), the nation's central bank and the equivalent of the U.S. Federal Reserve.

Most of last week's increase was due to currency fluctuations and adjustments, Banixco officials said.

At the close of 2013 the central bank reported about $140 billion USD on deposit, down from mid-summer of last year. July 2, 2013 - Peso, dollar remain volatile; Banixco has $169 billion USD banked abroad.

As for the state of the national economy as a whole, well, that's a very different story. Mexican economy remains stuck on a southbound train.

Dec. 9 - Banixco: bleeding peso stabilized by U.S. dollar auction

© MGR 2014. All rights reserved. This article may be cited or briefly quoted with proper attribution or a hyperlink, but not reproduced without permission

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