Losing That Fear of Floating
Mexico's rate cut exemplifies a growing trend: a greater tolerance for exchange rate flexibility in emerging economies.
Michael Hood
September 19, 2013
A U.S. hundred dollar bill and a folded Mexican hundred pesos bill are arranged for a photograph inside a currency exchange center in Mexico City, Mexico, on Tuesday, July 9, 2013. Mexicos peso rose for the first time in three days on July 11 after Federal Reserve Chairman Ben S. Bernanke called for maintaining a U.S. stimulus program that has boosted demand for the Latin American countrys securities. Photographer: Susana Gonzalez/Bloomberg
Susana Gonzalez/Bloomberg
