Mexican Peso falls after Trump threatened to close border

On Friday, the 30th of March 2019, the US President Donald Trump had threatened Mexico of closing United States’ southern border, saying that he would be terminating all kinds of connection with Mexico including trade

by Sourav D
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Mexican Peso falls after Trump threatened to close border

On Friday, the 30th of March 2019, the US President Donald Trump had threatened Mexico of closing United States’ southern border, saying that he would be terminating all kinds of connection with Mexico including trade through the southern border unless Mexico immediately stopped all illegal immigration.

Following the obdurate sprouting of Donald Trump on Mexican immigrant issue, the Mexican Peso had experienced a tottering and the local currency had posted its worst week in 2019 after registering a quarterly advance.

Upon arrival of the news of an imminent closure of its southern border with the United States, Mexican stock exchange also fell, which marked its worst quarter in seventeen years during Q4, 2018. Although the newly elected far-right wing Mexican President had secured a tariff cut on Mexican steel exports into the US, which had boosted the market sentiment earlier last month, Friday’s threat of US President alongside a dissolving of NAFTA had been besieging doubts over the new government.

After remaining buoyant for the most part of Friday, the Mexican Peso closed the day 0.39 percent lower to 19.3350 against the American dollar, while the currency had posted a weekly fall of 1.70 percent, its highest since early November over renewed pressure on Government regarding the immigrant issue.

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