Mexico to auction $32 m per day in reserves

The Bank of Mexico intends to sell part of its reserves each day for the next three months in a move designed to stem the growth of its international reserves.

Source: Reuters

Mexico's central bank said on Tuesday it will sell at auction via the foreign exchange market $32 million per working day in international reserves.

In a previously announced move designed to slow the rate of growth of reserves, Banco de Mexico said in a statement the dollar sales will run from May 2 through July 31.

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