21. Now that the peso is worth three or four times less, it is not surprising drivers lose money. 22. No, the peso is not the only currency on the rocks. 23. Of course, those pesos are worth far less than they were a few months ago. 24. Other Clinton administration officials said they warned Mexican leaders last year that the peso was overvalued, especially considering the tremendous pace at which Mexico was printing money. 25. Philippine stocks were mixed as investors waited for indications the peso is stable enough for the central bank to lower interest rates again. 26. Since the devaluation, pesos are worth much less against the dollar. 27. Some have gained because their customers --manufacturers in Mexico -- are doing better since the peso was devalued. 28. Suddenly, a peso was worth about half of what it was when the Rubins converted their dollars. 29. The Bangko Sentral raised its overnight borrowing rate after the Sunday Times of Singapore quoted Philippine Finance Secretary Roberto de Ocampo as saying the peso may be devalued. 30. The cheaper peso is good news for Colombian exporters, but bad news for the central bank and for companies with a lot of dollar-denominated debt. |