Mexico auctions six bln dollars to fight peso's fall

It earlier sold off three billion dollars at 12.86 to the dollar, in the latest Central Bank auctions, which began on Wednesday. Mexico's economy, closely tied to that of the neighbouring United States, had suffered relatively few bumps from the global crisis until the peso began to nosedive. The Mexican peso opened trade Friday at 13.08 to the dollar after plunging to a record low in late trading Thursday, changing hands at 12.80. It closed at 12.45 the previous day, despite the first dollar auctions. The peso initially rose Wednesday after the bank sold 998 million dollars, but it fell 2.8 percent Thursday, after the bank auctioned off a further 1.5 billion dollars. The Central Bank also injected 400 million dollars into the market... [read full story]