MEXICO CITY: Mexico's peso, which has been hammered by slumping oil prices, will remain "under control" this year despite market volatility, Mexican central bank governor Agustin Carstens said in Davos, Switzerland, state run news agency Notimex reported on Thursday.
Mexico's peso has weakened by over 12 percent against the US dollar since early September, prompting policymakers to launch a dollar auction program last month to stabilize the currency and flag concerns over inflationary pressures.
"There are fundamental reasons that will keep the peso's value under control in 2015," Carstens said at the World Economic Forum, Notimex said.
"There is a lot of volatility. There has been a general appreciation of the dollar practically against all currencies," he said according to the report. "But Mexico's strong fundamentals will keep it relatively well anchored."
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