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LatinNews Daily - 16 September 2021

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In brief: Mexico buys central bank US dollar reserves

* The Mexican government led by President Andrés Manuel López Obrador has bought over US$7bn from the country’s central bank (Banxico) reserves, in what is said to be its largest foreign currency purchase since 2008. In its latest weekly accounts bulletin, Banxico announced that its foreign currency reserves had diminished by US$7.02bn, bringing its total stock to US$198.54bn down from a record US$205bn. Mexico’s finance ministry has not given any information on the transaction or the reasons behind it, but there is speculation that the funds will be used to cover the state-owned oil company Pemex’s debts.