Post by pavel on Jan 24, 2016 3:35:37 GMT -6
The value of the Mexican peso against the dollar could soon fall to 20 pesos or more to $1 a devaluation that is hurting Juárez residents and may severely impact El Paso's economy, experts said.
At some retail outlets in Downtown El Paso and Juárez the peso is also already trading at 19.10 to the dollar, and since the beginning of the year the Mexican currency had declined by 6.1 percent.
The devaluation is hurting the purchasing power of Mexican citizens who shop in El Paso stores and the stability of businesses with Mexican contracts that are pegged to the dollar.
Silva's Super Market and Blue Seal Bakery, longtime businesses in South El Paso, both accept pesos at their stores and both reported seeing fewer Juárez customers in recent weeks.
Read more: www.elpasotimes.com/story/news/2016/01/23/peso-continues-its-slide/79201210/
At some retail outlets in Downtown El Paso and Juárez the peso is also already trading at 19.10 to the dollar, and since the beginning of the year the Mexican currency had declined by 6.1 percent.
The devaluation is hurting the purchasing power of Mexican citizens who shop in El Paso stores and the stability of businesses with Mexican contracts that are pegged to the dollar.
Silva's Super Market and Blue Seal Bakery, longtime businesses in South El Paso, both accept pesos at their stores and both reported seeing fewer Juárez customers in recent weeks.
Read more: www.elpasotimes.com/story/news/2016/01/23/peso-continues-its-slide/79201210/