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MEXICO CITY, May 24 (Reuters) – Mexico’s foreign exchange commission announced on Monday two currency auctions for $400 million each using a swap line with the U.S. Federal Reserve, the finance ministry and central bank said in a joint statement.
The auctions will be held on May 26 and May 28, the statement said, adding that the operations will have maturity periods of 84 and 79 days, respectively.
“The Foreign Exchange Commission will continue to evaluate the operating conditions in the market, exchange rate and, if necessary, take additional actions,” the statement said.
In March 2020, Mexican financial authorities said they would activate the Fed swap mechanism up to $60 billion to support liquidity in the market as the peso currency suffered sharp losses against the dollar.
Reporting by Cassandra Garrison and Sharay Angulo; Editing by Kim Coghill
