Mexican Peso Up Against Dollar

This morning's news on Mexico investment could start no other way but with the good news that the Mexican peso has risen again against the dollar. Today the peso has bounced back from the steep loss in the previous session that took it near 12.50 pesos to the dollar. In this week's mexico investment news, there have been reports as to why the peso is rising: First of all, Mexico's foreign reserves are helping to boost the peso, moving up by $1.59 billion last week to a record $136.13 billion, according to the Bank of Mexico. While the State oil monopoly Petroleos Mexicanos, or Pemex, remained the principal source of reserves as it sold $1 billion to the central bank last week, the remainder came from an increase in the value of the central bank's reserve holdings and other transactions.