11. Fire Sale Then suddenly, the ban of lumber exports was lifted, ostensibly to generate dollar revenue and stabilize the peso. 12. Incoming IMF Representative to the Philippines Henri R. Lorie said the measure was instrumental in stabilizing the peso and gaining back the confidence of foreign investors. 13. Instead, it has used interest rates to stabilize the peso in volatile market conditions. 14. Officials here and in Washington said Mexico has so far not drawn on a package of currency swap loans to stabilize the peso. 15. Officials here and in Washington said that so far Mexico has not drawn on a package of currency swap loans to help stabilize the peso. 16. President Ernesto Zedillo has released plans to stabilize the peso, fortify ailing banks and hold down inflation. 17. Since then, there have been no major interventions to stabilize the peso during bouts of volatility. 18. The central bank had pointedly refrained from intervening in recent weeks, opting instead to use liquidity-tightening measures to stabilize the peso. 19. Traders said the renewed investor confidence stemmed from the new efforts to stabilize the peso. 20. As the first elections since the government imposed an emergency plan to stabilize the peso, they were being watched closely as a barometer of political confidence in Zedillo. |