1945

Income, consumption and investment, as well as the balance of payments and relative prices and costs between the various sectors of the economy, showed marked changes during 1954. The principal influence was the sharp and sudden devaluation authorized on 17 April which raised the Mexican peso quotation from 8.65 to 12.50 per dollar, an increase of 30 per cent. The repercussions of devaluation were immediate and profound, above all because Mexico has only one exchange rate, which is entirely free, in contrast to some other Latin American countries where depreciation has taken place little by little and is generally spread over multiple exchange systems which have weakened its severity.

Related Subject(s): Economic and Social Development
Countries: Mexico
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