MEXICO CITY—The Bank of Mexico on Monday launched a dollar-hedging program, placing all $1 billion in forward contracts as it opens a new front in efforts to support the Mexican peso without draining foreign reserves. The central bank sold $1 billion in nondeliverable forwards at six different maturities ranging from 30 days to 360 days. Overall demand was $2.08 billion, with average exchange rates ranging from 19.5793 pesos per...

Source: Wall Street Journal March 06, 2017 17:03 UTC