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MEXICO CITY, Dec 9 (Reuters) - Mexican Central Bank Governor Agustin Carstens on Tuesday said the peso is undervalued and could strengthen while also noting that policymakers could raise interest rates if currency weakness affects inflation.
Carstens told local radio that the market appeared to have stabilized a bit after the central bank restarted a dollar auction program on Tuesday to help cushion the peso's slide.
"What I can say is that the peso is undervalued at current levels," Carstens said, adding that the currency could get stronger going forward. (Reporting by Luis Rojas)