Mexico Foreign Exchange Reserves: % of GDP.
2000 - 2017 | Quarterly | % | CEIC.
Mexico’s Foreign Exchange Reserves: % of GDP was reported at 14.64 % in Sep 2017. This records a decrease from the previous number of 15.22 % for Jun 2017. Mexico’s Foreign Exchange Reserves: % of GDP data is updated quarterly, averaging 8.45 % from Mar 2000 to Sep 2017, with 71 observations. The data reached an all-time high of 15.76 % in Mar 2017 and a record low of 4.84 % in Jun 2000. Mexico’s Foreign Exchange Reserves: % of GDP data remains active status in CEIC and is generated by CEIC. The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Foreign Exchange Reserves: % of Nominal GDP: North and South America. CEIC calculates quarterly Foreign Exchange Reserves as % of Nominal GDP from monthly Foreign Exchange Reserves and quarterly Nominal GDP. The Bank of Mexico provides Foreign Exchange Reserves in USD. The National Institute of Statistics and Geography provides Nominal GDP in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.
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What was Mexico's Foreign Exchange Reserves: % of GDP in Sep 2017?
Mar 2000 - Sep 2017.
View Mexico's Foreign Exchange Reserves: % of GDP from Mar 2000 to Sep 2017 in the chart:
Foreign Exchange Reserves: % of Nominal GDP: Quarterly: Mexico.
Foreign Exchange Reserves: % of Nominal GDP: Quarterly: Mexico.
Mexico Foreign Exchange Reserves.
2000 - 2017 | Monthly | USD mn | CEIC.
Mexico's Foreign Exchange Reserves was measured at 166.1 USD bn in Oct 2017, compared with 164.4 USD bn in the previous month. Mexico's Foreign Exchange Reserves: USD mn data is updated monthly, available from Jan 2000 to Oct 2017. The data reached an all-time high of 188.7 USD bn in Jan 2015 and a record low of 32.0 USD bn in Jun 2000. CEIC calculates monthly Foreign Exchange Reserves as the sum of Foreign Currency Reserves and Other Reserve Assets, which includes other financial instruments denominated in foreign currency. The Bank of Mexico provides Foreign Exchange Reserves in USD.
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Mexico Institute.
Seeking to improve understanding, communication, and cooperation between Mexico and the United States by promoting original research, encouraging public discussion, and proposing policy options for enhancing the bilateral relationship.
Tag: Foreign Exchange Reserves.
Mexico’s Foreign Reserves Rise by $503 Million.
Latin American Herald Tribune, 4/30/14.
Mexico’s foreign reserves rose by $503 million last week to $184.01 billion, the Bank of Mexico said.
Gold and foreign currency reserves grew in the week ending April 25 due to the sale of $500 million by the federal government to the Bank of Mexico and an increase of $3 million in the value of foreign assets held by the central bank.
Reserves have grown by $7.49 billion since Jan. 1, the Bank of Mexico said in a statement.
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Finance: The Importance of Foreign Exchange Reserves.
Americas Quarterly, 2/10/12.
An important lesson of the 2008–2009 financial crisis was that the emerging market economies with high levels of international reserves were better able to withstand the ripple effects of the global meltdown. In Latin America, the cases of Brazil and Mexico provide a clear illustration.
When Lehman Brothers went under in September 2008, Brazil had foreign exchange (FX) reserves of $205.5 billion—equivalent to 12.9 percent of GDP—while Mexico had $83.6 billion, or 7 percent of GDP.
While the FX reserve levels easily covered a year of short-term debt maturities, Mexico’s were below the other precautionary threshold of six months of import coverage. Brazil’s much higher level allowed its central bank (BCB) to more effectively respond…
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Mexico’s Peso Gains for the First Time in 2 Weeks on Auctions.
Sept. 2 (Bloomberg) — Mexico’s peso rose for the first time in almost two weeks after the foreign exchange commission said yesterday it will extend its daily dollar auctions through the end of this month.
The commission said in a Sept. 1 statement that it will continue to sell $50 million in the foreign-exchange market until Sept. 30. It also maintained the sale of $250 million when the peso weakens more than 2 percent in a day and said the possibility of carrying out “extraordinary” dollar sales continued.
Mexico's Peso Climbs Most in One Month on Banxico Hedge Plan.
Sam Zell Says Mexico Won't Be Hurt by Trump Policies.
Mexico’s peso rallied the most in a month as the central bank is preparing to auction as much as $20 billion in foreign-exchange hedges for the first time to bolster the currency without draining international reserves.
The peso climbed 2 percent to 19.9740 per dollar at 3:40 p. m. in New York, erasing losses, as the intervention is equivalent to selling dollars in futures markets to expand hedges being offered to companies. The currency broke above the average price of the past 100 days, signalling more gains to technical traders. The first Banxico auction will take place on March 6 for up to $1 billion, the country’s currency exchange commission said on its website.
"This measure could offer some ongoing support to the peso beyond this initial reaction, depending on how the frequency and size of any such measures evolve going forward,” said Erik Nelson, a currency analyst at Wells Fargo Securities in New York. “I would say that it is unlikely to change the overall trend/trajectory of the peso, but it could support further strength or lean against any renewed weakness."
Similar to non-deliverable forwards, the foreign-exchange hedge was announced as the peso took a beating following Donald Trump’s victory in U. S. presidential elections. His threats to renegotiate or scrap a free trade deal with Mexico caused the currency to plunge to record lows before reversing some of its losses in recent weeks.
The hedge is the latest tool Mexico is employing to prop up its peso, which included selling dollars to banks in both January of this year and February 2016. While dollar sales have eaten into Mexico’s reserves, the hedges announced Tuesday are settled in pesos and are reflected on the central bank’s balance sheets. Institutions that participate may be betting on the peso’s depreciation while others may just want to lock in a specific exchange rate in futures.
“I suspect this is meant to meet the demand for dollar hedging,” said Win Thin, the New York-based head of emerging-markets strategy at Brown Brothers Harriman & Co. "This looks very much like the swaps program used by Brazil."
— With assistance by George Lei, and Michelle Davis.
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