Crude Oil Puts Mexican Peso Further Down

The Crude oil has been declining this week as uncertainties towards its demand have been rising on markets globally, Mexico, one of the biggest suppliers of oil to the United States, is witnessing a severe decline on its national currency as the demand for crude oil falters.
The Mexican currency has been one of the most volatile these days, influenced by constant sentiment changes in global financial markets, which affect the crude oil rates and consequently the sentiment towards the peso, since Mexico is a key-oil exporter to the United States. This week losses are the sharpest in more than a month, directly related to crude oil rates.
USD/MXN traded at 13.11 as of 21:39 GMT from an opening rate today of 13.02.

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