81. For several months, Mexican exporters have warned that a stronger peso is making their products more expensive abroad. 82. In addition, a weaker peso makes imported raw materials and dollar-denominated loans more expensive for Mexican companies to pay for, reducing company earnings even further. 83. It also helps promote the sales and earnings at local companies since a weaker peso makes imports more expensive to buy. 84. Investors were concerned that a stronger peso would make Mexican companies less competitive and hurt earnings at exporters. 85. Many shares fell as investors decided that an overvalued peso makes Mexican stocks too expensive relative to their earnings and dividend potential. 86. Mexican officials are relying on the devalued peso to make Mexican exports cheaper and imports from other countries, including the United States, more expensive. 87. The cheaper peso made local shares attractive again, analysts said. 88. The falling peso will make American job losses worse, Perot said. 89. The strong peso had made Mexican exports more expensive and had allowed Mexican consumers to buy foreign goods more cheaply, causing imports to grow. 90. The strong peso makes U.S. goods a bargain. |