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Weekly Report - 03 September 2009 (WR-09-35)

MEXICO: Oil worries mount

The Mexican peso fell by about 2% against the US dollar on 1 September. Although most other emerging market currencies also weakened that day against the dollar, the move against the Mexican peso was disproportionately large at 28 centavos. This was the biggest daily fall in the currency since April 2009. The Brazilian Real, for instance, weakened by only 0.7%.

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