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Mexican meat markets have plunged as the U.S. dollar slumped to a five-year low, a day after a stock market crash.
The peso dropped as much as 6.2 percent to 88.85 per dollar, the lowest in a month, as traders piled into futures markets as a weak dollar and a weak stock market hit the market.
A Reuters poll showed that the peso’s fall was the worst since June.
The dollar has been the world’s main currency, and it has dropped by more than 70 percent since the election of President Enrique Pena Nieto.
Mexico’s central bank, which controls currency rates, has been urging its citizens to stay away from the pesos, as it has for many years.
The central bank said it will issue another note of 10 pesos ($3.14) to hold the pesoan against the U: dollar, while its other currency rate will be kept at 6.5 pesos.
The stock market, which is the world champion, dropped more than 50 percent from its peak of $1,400 per share in late July, before it rebounded by more then 70 percent on Monday.
The dollar index is down about 4.6 percent from Monday’s peak.
It was up more than 7 percent at $1.2777 on Monday before hitting a new record low of 86.82.
The euro fell to $1:1.1564 from $1 in early trading, while the yen slipped to 96.30 from 103.30.
Mexico has been under a currency blockade for more than a year.