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Daniel Chavez Moran on rising peso

Daniel Chavez Moran on rising pesoThrough his philanthropic work with the non-profit Vidanta Foundation, retired Mexican entrepreneur Daniel Chavez Moran remains dedicated to advancing democracy and economic opportunity in Latin America. Chavez Moran follows economic news of the peso rising in value as the U.S. economy improves as recently reported by Reuters news service:

RIO DE JANEIRO/MEXICO CITY, Aug 29 (Reuters) – Latin American currencies gained against the U.S. dollar on Monday, led by Mexico’s peso, after better-than-expected U.S. economic activity reduced concern that the world’s largest economy is entering another recession…

The United States is responsible for about 80 percent of Mexico’s export earnings and is the largest or second-largest trading partner of most Latin American countries. “When you get news of growth in the U.S., that’s better for the peso,” said Marcelo Salomon, chief economist for Brazil and Mexico at Barclay’s Capital in New York. “Concern about the United States going into recession would have been bad news not just for Mexico but for the rest of Latin America as well.”

Related posts: Daniel Chavez Moran on market opportunity in Mexico and Daniel Chavez Moran on economic lessons learned.

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