Mexican Peso Chained to U.S. Dollar
Sunday, March 16th, 2008Something is not right. So far I haven’t found the answer to this question, “Why does the Mexican Peso sink with the U.S. Dollar”? Look, Mexico has gold, silver, copper, oil, agriculture, tourism and an emerging middle class, but the Peso never gains any traction against the Dollar. Why??
The Canadian Dollar has surpassed the U.S. Dollar in value and so have other currencies around the world. If the Mexican Peso ever frees itself from the clutches of the falling U.S. Dollar we could see a rapid reversal of fortune. But, this will never happen until the mystery of the 10 to 1 exchange rate is solved. (see side bar for current exchange rate)