Mexico's Finance Chief To Address US Election Effect

Mexico's finance chief to address US election effect

MEXICO CITY, Nov 9, (Pakistan Point News - APP - 09th Nov, 2016 ) - Mexican Finance Minister Jose Antonio Meade and central bank chief Agustin Carstens will address the media early Wednesday to outline actions after the peso tumbled during the shock US presidential election. The finance ministry issued a brief statement saying the pair would speak at 1200 GMT. A government official speaking on condition of anonymity told AFP that they would discuss "actions" in response to the US election, but the source declined to give more details.

The national Currency fell to a record low past 20 pesos per Dollar as Donald Trump appeared headed toward victory against Democrat Hillary Clinton. Meade had predicted last week that a Trump victory would cause "volatility" while Carstens said the government already had a contingency plan in place. Trump has unnerved markets for months following his vow to force Mexico to pay billions for a border wall and renegotiate the North American Free Trade Agreement (NAFTA).