MEXICO CITY, July 30 (Reuters) - Mexico’s central bank on Thursday said it sold all $200 million on offer at an average price of 16.4622 pesos per dollar in an auction to support the peso after the currency hit a fresh record low.
Mexico’s peso has lost more than 25 percent since last July, hit by sinking oil prices and fears the U.S. Federal Reserve’s expected rate hike will spur investment outflows from Latin America’s no. 2 economy.
The auction, prompted by a more than 1.5 percent drop in the currency on Thursday, was only the third time it has been triggered since the intervention program was announced in December. (Reporting by Noe Torres and Jean Luis Arce)