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LatinNews Daily - 11 October 2021

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In brief: Mexican peso weakens

* Mexico’s peso traded at around M$20.71/US$1 at the close of day in local financial markets on 8 October, down from M$20.42/US$1 a week earlier. Economists such as Gabriela Siller, the head of economic and financial analysis at Banco Base, a Mexican private bank, point out that this marks the fourth consecutive week that the peso has depreciated. Analysts link the peso’s depreciation to inflation concerns following the latest official figures for September which showed a continued rise in inflation, as well as government policies perceived as market unfriendly such as the electricity sector reform which was recently sent to congress.