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Mexico Devalues Peso to Boost Tourism and Cut Deficit
Mexico devalues its peso from about 12 to 1 USD toward 20 to 1, easing imports for foreigners and lowering hotel costs for travelers but hitting Mexicans with higher prices and potential wage increases. Tourism, a $3 billion annual industry, faces relief if visitors return as prices rise domestically and the balance of payments deficit narrows.
MENTIONED IN THIS ARTICLE
Mexico City
Mexico
Acapulco
U.S
Mexican Workers Confederation