One Peso Blog October Archive

Global Recession Hits Mexican Peso Hard

10/22/08 23:46

Global recession has hit the United States economy hard the past few weeks and this had various effects on the economy of the other countries. One of these countries is Mexico. Recently, the exchange of one dollar is thirteen Mexican Pesos which is bad for the market and the consumers. This is see as fewer people goes shopping and availing transportation and local services. For a more comprehensive view, visit the permalink below.

Link: More Pesos Could Mean Fewer Mexican Shoppers

Tags: mexican peso • global recession • peso downfall •
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The Most Profitable Airline of Our Time?

Commercial airlines around the world may be suffering from the global economic slump, they may be slashing costs down to weather this crisis, but there is still one airline company that rakes in lots of money regardless of the season.

It is called WetBack Airlines by TheSpoof.com. It's that airline company that carries illegal immigrants from the United States to their home countries. Very profitable business, indeed.

Link: The Spoof : Wetback Airlines: There's Pesos to Be Made Shipping Wetbacks Way Back Home! funny satire story

Empowering Cuban Peso

The Cuban peso is worth a little more than $0.04 only where most workers can't afford to buy what they want and need cause they only have a monthly salary of 408 pesos.

Communist experiment in Bayamo, let government workers here enjoy few things that only foreign visitor and rich Cubans can afford like a good burger, jazz bar and cocktails.

Bayamo's central government has made a special effort to support peso businesses, giving the lowly currency more buying power. Paseo businesses here are subsidized by the government.

[404 Check: was link to http:/ / canadianpress. google. com/ article/ ALeqM5i -yGCuzOYJESkNvpgUjLYfTqkCxQ, anchor: Link: The Canadian Press: Life in Cuba: One town's experiment gives peso real value]

Dollar rises, peso falls

As more American institutions get less liquid and liquid due to the massive selloff of American stocks, its value get larger and harder to come by. This just means that other currencies get a lot cheaper against the dollars.

This includes the Mexican peso, which has achieved a lot of losses in recent weeks.

Link: Bloomberg.com: Latin America