Adios, superpeso
Ricardo Jiménez y Manuel Lombera in today’s El Universal (my translation):
The superpeso has been done in by the international financial crisis. Economic analysists and bankers in Mexico do not expect to see the return of the ten peso to the dollar rate, which was the average over the last year.
They estimate that the peso will lose value for the rest of the year, though in 2009, it will reach a peso-dollar parity of around 12:1.
Salvador Orozco, subdirector of financial markets at Santander estimates that the peso-dollar exchange rate will be in the range of 12 to 13 in the medium range, although he doesn’t discount a return to a rate of 11.50 to 12.00 pesos to the dollar by 2010.
For his part IXE economic analyst Luis Flores, predicts the national currency will trade at a level of 13.30 over the next four weeks.
Both agree that by the end of 2009 or beginning of 2010, economic pressure on the peso will abate, and the rate will be around 11.80.
Other specialists in currency trading expect demand for greenbacks to remain strong for the rest of the year. Several inter-reacting factors will cause that the dollar continues to the rise, such as the seasonal demand at the end of the year [dollar values always rise in Mexico at the end of the year, as remittances pour into the rural economy], as well as falling prices in international markets, and the increasing dollar-denominated debt load of Mexican companies.
Salvador Orozco mentioned that as a consequence of pressure on the peso, he expects inflation to rise, forcing the peso to eventually level off at the 12 to one dollar exchange rate.
For exporters, the depreciation in value is not necessrily good news. Fernando Ruiz Huarte, technical director of the Foreign Commerce Council (Consejo Mexicano de Comercio Exterior), commented that a higher exchange rate will mean a higher cost for consumer goods. The advantages of a cheaper peso are only short-term for the export market.
mexfiles.net 
Awweee damn! All those weak dollar Ron Paul supporters must be angry with every gain of the dollar. More illegal immigration to come with each point fall of the Peso. When will Mexico just start teaching English to all of the poor population so that they can do better when they eventually flee Mexico for the US? The White Mexican Socialists in power have a lot of explaining to do.
Uhhh… English is required in most states from Kindergarten on. “White Socialists?”
The Mexican peso may soon hit the range of 15 to the dollar. The Central Bank in Mexico has used a considerable portion of its dollar assets to prop up the value of the peso and will not be able to continue this policy for long, remittances are down, the Mexican “War on Drugs” will result in monies which would have gone to Mexico to be diverted to other locations, the price of oil may continue its slide (manipulated bubbles often result in over corrections), tourism will be negatively effected by the press coverge of the “carnage in Mexico, and many Mexican corporations speculated on a continued devaluation of the dollar.