Mexican peso still has room to strengthen -FinMin

WASHINGTON, April 25 (BestGrowthStock) – Mexico’s peso still has
room to appreciate and capital controls elsewhere have not been
shown to be effective in stemming money flows, Finance Minister
Ernesto Cordero said on Sunday.

In a sustained rally of emerging market currencies over the
past year, countries including Brazil have imposed capital
controls to limit inflows of foreign funds, but Mexico has
resisted such moves.

“Even though the exchange rate has appreciated in the last
few weeks, in the long term the rate still shows undervalued
levels,” he said.

(Reporting by Manuela Badawy; editing by Patrick Graham;
Washington Newsroom +1-202 898-8310)

Mexican peso still has room to strengthen -FinMin