Mexican Peso Plummeting After Brexit Vote

Results for the referendum in the UK have the world's markets in shambles.

After the "Leave the EU" vote won by a slim margin after yesterday's Brexit referendum, the world's biggest stock markets are watching helplessly as every currency is falling in relation to the USD.

But it wasn't only the British pound that suffered because of the referendum, because the Mexican peso was one of the most affected in the international market. At first, when Remain seemed to have the advantage, dollar prices were falling slowly and the value of other currencies looked good. The Mexican peso was worth 8.23 units on the market, 26 cents above its price the day before.

As the day progressed and the Leave vote started having an edge over Remain, Mexican news source El Financiero reported a rough 76 cents shift for the currency, and it finally ended on 19.25 pesos per USD when the referendum was over. Mexican economists warn that it could go as high as 20 pesos per USD in the following days.

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