Banco de Mexico might halt forex reserves buildup

A Banco de Mexico official said on Jan. 31, 2001, the central bank was weighing the cost of continuing to accumulate foreign exchange reserves and was considering halting its monthly auction of dollar options. "We've got to seriously consider if we want to continue to accumulate international reserves and if we want to continue with the (dollar option) auction," a senior central bank official said.The monthly option auction is a mechanism used to build reserves that have steadily piled up sin