Bank of Mexico to send government 239 billion pesos on back of reserve gains
Some 70% of surplus to be used to reduce government debt
The Bank of Mexico will transfer 239 billion pesos to the government at some point in the coming 12 months, it announced on April 11, after registering exchange rate gains.
Over the course of fiscal year 2015, the central bank accumulated around 378.2 billion pesos ($21.5 billion) thanks to gains on its international reserves. More than half of this will go to the government.
The peso fell around 14% against the dollar last year, currently trading at 17.58 pesos per $1.
By law the central bank
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