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LatinNews Daily - 25 May 2021

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In brief: Mexico’s central bank announces more dollar auctions

* Mexico’s central bank (Banxico) has announced that it will be holding two new US dollar auctions, due to take place on 26 and 28 May for US$400m each time. Banxico said this was in line with the US$60bn currency swap line that Banxico agreed with the US Federal Reserve (Fed) in March 2020 to help ensure the liquidity of Mexico’s financial system and mitigate the economic crisis produced by the coronavirus (Covid-19) pandemic. The initial currency swap line was due to last six months but in December 2020 the Fed announced it was extending it for a second time until 30 September 2021. Banxico said that with the latest announcement, ten such auctions will have taken place since March 2020.