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12-02-2007, 03:16 AM #1
Pumped Up Peso
Pumped Up Peso
By Aaron Nelsen/The Brownsville Herald
December 2, 2007 - 12:18AM
The dollar is steadily losing favor as the preferred currency in the world, but there could be a silver lining to the greenback’s decline.
While a weak dollar is certain to have implications on the broader U.S. economy, the Rio Grande Valley is more directly impacted by the relative strength of the Mexican peso against the dollar.
The peso has enjoyed a period of relative stability over the last several years, hovering around 11 pesos to the dollar, which is good news for Valley retailers. They count on Mexican shoppers to bolster sales, particularly during the holiday season.
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