My Mexican bank just informed me in a hurried and ill-written email that a newly issued Mexican Central Bank regulation drastically limits how many dollars I will now be able to hold in a demand account. I can hold a lot in a 24 hour notice account, but not in a demand account. Of course I will still be able to park as many pesos as i want in a demand account.
I think I will tighten my seat belt…
I imagine that the J6 reports are going to roil the markets over the next few weeks as the oligarchs move money both for personal and political reasons.
June 6 riot reports definitely figure in the uncertainty, but I expect the Mexican Central Bank is also worried about maintaining “reasonable stability” in the dollar peso market as oil and gas prices go crazier with the Ukraine and etc… Mexico is a major producer, and “doing too well” in a sporadic way has been very dangerous in its past.