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Reduced Oil Production Hurting Mexican Economy [View article]
I have been under the assumption that the peso/USD relationship is largely based on the Oil Price i.e. if the price of oil is high, Mexico is flooded with USD and the Mexican need for USD is diminished - and the prices in Mexico for USD holders are high.
I know that for several years Mexico has not been any bargain for USD holders. And oil has been high.
Jim, can you shed any light on this relationship?