UPDATE 1-Mexican forex commission announces $7.5 bln in two auctions -statement

(Adds background details)

MEXICO CITY, Sept 11 (Reuters) - Mexico’s foreign exchange commission announced on Friday two currency auctions totaling $7.5 billion using a swap line with the U.S. Federal Reserve, the finance ministry and central bank said in a joint statement.

Mexico’s central bank said on July 29 that it extended the duration of a Fed swap line of up to $60 billion until at least March 31, 2021, from a prior expiration date of September 30.

In late March, Mexican financial authorities said they would activate the Fed swap mechanism to support liquidity in the market as the peso currency suffered sharp losses against the dollar. (Reporting by Noe Torres; Editing by David Alire Garcia and Grant McCool)