- Title: Mexico's president says economy sound as peso plunges
- Date: 9th March 2020
- Summary: NEWSPAPERS
- Embargoed: 23rd March 2020 16:07
- Keywords: Mexican President Andres Manuel Lopez Obrador Mexico economy finance monetary money peso recession
- Location: MEXICO CITY, MEXICO
- City: MEXICO CITY, MEXICO
- Country: Mexico
- Topics: Government/Politics
- Reuters ID: LVA004C4C0F2F
- Aspect Ratio: 16:9
- Story Text:Mexican President Andres Manuel Lopez Obrador said on Monday (March 09, 2020) that the country would bounce back from a sharp drop in the peso currency at the weekend and that public finances are in good health.
Speaking at a morning news conference, Lopez Obrador said, "there is a fall in oil prices which is affecting us, which has depressed the peso. But, we think that we're going to recover because I'm optimistic, first off, because we have sound public finances."
The peso fell as much as 8% overnight due to a sharp decline in global oil prices, before trimming some losses on Monday morning to trade about 5.5% down since Friday's (March 06) close.
Mexico's main stock market index fell more than 5% early on Monday.
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