Mejias speech yesterday

Larry · Dec 4, 2003

I read the news about Mejias speech and his prediction that the peso will reverse its course and eventually hit 30 to 1. I also see on the front page of DR1 where the peso did strengthen as opposed to yesterdays rate. My questions are:

---Is the reversal I see just a knee-jerk reaction to the speech
---What is the rate right now
---Which way do you anticipate the peso heading from here
---Were Hippos overtures just a ploy to gain political support

Larry

arturo · Dec 4, 2003

Larry, your questions have been answered previously

Everything you asked was answered in the two or three threads on this subject. One bit of information that I don't remember seeing here as yet is a reminder that Hipolito made a somewhat less radical and dramatic speech a few months back when that caused the peso to temporarily strengthen. It held for a little more than one week. The situation has clearly deteriorated quite a bit since then but I don't anticipate a significantly different outcome.

The IMF is the wild card. If an IMF cash infusion comes through it would definitely strengthen the peso. The IMF has made it clear it will require certain concessions from the Mejia government...

Hlywud · Dec 4, 2003

According to the Listin Diario, the President, while on the campaign trail, told reporters that he had shown patience in dealing with the elevated exchange rate, but has decided to stop "playing" with the problem.

He must realize he is not the player to determine the exchange rate, finally some sense might have immerged.

Larry · Dec 4, 2003

arturo

Thanks. I didnt see the other threads. When I log on I click the "view todays active threads" link instead of going from forum to forum and those threads must have been near the bottom. Sorry I started this one. Maybe Robert can delete it so I dont start another discussion on the same topic.
Larry

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Mejias speech yesterday

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