Peso 17.65

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Peso in free fall: Dollar sold over the counter in 17.65

Tijuana, Baja California, Dec. 11. The peso is in free fall and this morning is sold at 17.65 pesos after that opening up markets is sold at 17.84 pesos in bank window.

In response, the Bank of Mexico entered the market to sell a total of 400 million dollars in two auctions with minimum price, in the first of 17.41 and 17.36 in the supplementary of pesos.With them all week sales amount to billions of dollars.

Oil pressures and rising interest rates are so strong that for the first time is setting the ceiling of the exchange rate at 18 pesos retail, according to the Center for Economic Studies of Tijuana.

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