The future of the peso depends on Europe

Where the peso will close the year depends on the denoument of the "Greek tragedy", which has become a European one. If the European Community's stabilization efforts don't succeed in calming the markets, the peso will feel the fallout.

The swings in the peso are not about what's happening in Mexico. The peso's ups and downs are about volatile capital flows, returns, and investors' appetite for (or aversion to) risk. Obviously, sound macro-economic management will help us to weather the tempest that broke out in the Mediterrean; sound policies won't, however, keep us immune.

Back on the roller coaster

Yesterday, the peso took a nosedive, along with the Euro. Stock markets plunged. Once again, investors are heading for the safety and liquidity of US government debt.

The peso's 5.1% drop (fix rate) in a week vividly illustrates how fragile a foundation for the exchange rate portfolio investment is.

What are the best paid jobs for Mexicans sending money home from the US?

According to a Banco de Mexico study from 2007, these were the best paid jobs for Mexicans working in the US who sent money back home.

Driver US$2,958 / month
Auto mechanic US$2,396 / month
"Others" US$2,364 / month
Construction US$2,301 / month