UPDATE 1-Mexico finmin says peso gains not hurting exports

(Adds quote from minister, background)

MEXICO CITY, Oct 27 (BestGrowthStock) – Mexico is not losing export
competitiveness due to recent gains in the peso, the finance
minister said on Wednesday.

The peso (MXN=: ) (MEX01: ) has firmed recently against the
U.S. dollar as investors looking for higher yields flood Latin
America with capital.

“We have had a process of peso appreciation but Mexico has
not lost its export competitiveness due to this,” Finance
Minister Ernesto Cordero told radio station Radio Formula.

Cordero also said the economy should grow 5 percent this
year.

The Mexican currency is 6 percent stronger from its Sept. 1
levels but fell 0.5 percent to 12.455 per U.S. dollar early on
Wednesday as the dollar broadly strengthened.
(Reporting by Patrick Rucker, Jason Lange, Caroline Stauffer
and Veronica Gomez; Editing by James Dalgleish)

UPDATE 1-Mexico finmin says peso gains not hurting exports