U.S. Support Boosts Ailing Mexican Peso

Thu., Jan. 12, 1995

Compiled From Wire Services

The Mexican stock market rallied Wednesday from two days of heavy losses as bargain hunters scooped up battered shares and the peso strengthened on a show of support by President Clinton in Washington.

The Bolsa’s main IPC index rose 2.82 percent to close at 2,027.87.

But the modest rally didn’t do much to blunt the 12.5 percent combined shortfall of Monday and Tuesday.

The peso also firmed to trade at 5.65 to the dollar, versus 5.75 late Tuesday, after Clinton announced he would authorize an extension, if necessary, of a U.S. line of credit to bolster the Mexican currency.

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U.S. Support Boosts Ailing Mexican Peso

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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