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July 25th, 2008
Posted: 10:26 PM ET
From CNN’s Krupskaia Alis MEXICO CITY (CNN) — Not since October 2002 has a lone Mexican peso been worth a dime, and the Mexican currency’s strength is seen as a positive sign by many observers. Various factors play a role in fortifying the peso, among them a return on investment of as much as 8 percent for deposits, about 6 points higher than is available in the United States. Add to that the money sent home by Mexicans working abroad and the extra dollars the oil-rich country is getting for its petroleum products, and Mexico is raking in an extra $100 billion in resources this year, all of which go to strengthen the peso. |
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