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Latam currencies drop on China turmoil; Mexico peso hits record low
Shoaib Ur Rehman
07 Jan, 2016
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Copyright Reuters, 2016
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![](https://i.brecorder.com/images/2016/01/latin-american-currencies0.jpg">SAO PAULO: Latin American currencies weakened on Thursday after China's government let the yuan decline further, triggering fears that the world's largest consumer of commodities might experience a steeper slowdown.</P><P>The move sparked a 7 percent slump in Chinese equities, resulting in an automatic trading suspension for the second time this week. Commodity prices followed suit, dragging along currencies from export-oriented economies.</P><P>The Mexican peso set an all-time low of 17.7165 to the dollar, while the Colombian peso tumbled almost 2 percent as oil prices fell to nearly 12-year lows.</P><P>The Chilean peso dropped to its lowest against the dollar since April 2003 as copper prices slipped.</P><P>)
