Mexico central bank sells dollars to counter peso slide to record low.
Mexico's central bank sold dollars in Mexico and New York on Thursday to fight off the peso's nose dive to record lows amid fears U.S. President-elect Donald Trump's protectionist policies could further hammer Latin America's second biggest economy.
The central bank sold at least $1 billion in U.S. currency in morning trade, four traders told Reuters. The central bank said it would keep the amount confidential.
It was the bank's first currency intervention since February 2016, when it sold $2 billion to prop up the sinking peso. The peso depreciated 20 percent last year alone and was among the world's worst performing currencies.
The peso dipped as low as 21.624 per dollar, after pushing past the previous bottom of 21.395 set on Nov. 11, soon after Trump's surprise Nov. 8 presidential election victory.