Mexican Peso Crashes To Record Low

11/09/2016 04:20 AM
Source: Business Insider
by: Elena Holodny and Portia Crowe

The Mexican peso is crashing on Tuesday as polling data from the US presidential election crosses the wires.

The currency was down by about 13.0% at 20.6879 per dollar around 11:50 p.m. ET, around lows for the day.

Earlier, before election results started rolling out, the currency closed the day up by about 1.3% against the dollar.

Alabama, Kentucky, Indiana, Texas, North Dakota, South Dakota, Wyoming, Kansas, South Carolina, Oklahoma, Ohio , Tennessee, Mississippi, Montana, Florida, Georgia, North Carolina , Wisconsin , and West Virginia have been called for Donald Trump. Vermont, Connecticut, California, Hawaii, New York, Illinois, New Jersey, Massachusetts, Maryland, Rhode Island, Delaware, Washington DC, Colorado , Washington state, Oregon, and Virginia have been called for Hillary Clinton.

Given that Republican presidential nominee Donald Trump's protectionist platform could have negative repercussions for the Mexican economy, the currency has become something of a gauge of his prospects over the past couple of months of the campaign.

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