# External Factors Hammer The Peso Harder Than Reform Bills, Says Banxico - MEXICONOW

> Banxico Deputy Governor Jonathan Heath said judicial reform is only one of several factors pressuring the peso and not the main driver. He noted the central bank holds about $220 billion in reserves and has credit and swap lines available to smooth volatility.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/30001-external-factors-hammer-the-peso-harder-than-reform-bills-says-banxico-mexiconow
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Central bank reserves and backstops reduce the likelihood of a disorderly peso collapse, which limits the downside risk to Mexican feed import costs and US export demand.

## Read by commodity

- USDMXN: neutral

## Sources

- mexico-now.com: https://mexico-now.com/external-factors-hammer-the-peso-harder-than-reform-bills-says-banxico/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.