1.   Its cash reserves have dropped by half.

2.   Banco de Mexico reserves dropped sharply and the peso was devalued twice toward the end of his administration.

3.   BI, however, did not elaborate on why the forex reserves had dropped.

4.   But he said reserves would drop slightly as interest rates fell.

5.   It was only the second time this year that foreign currency reserves have dropped.

6.   The economic woes included news that inflation was higher than expected, that foreign currency reserves had dropped and that labor unions were unwilling to keep wages low.