Friday, October 10, 2008

Along the border the power of the peso isn't what it used to be and the businesses just blocks from the Paso del Norte bridge eel the impact the quickest. The price tag stays the same but customers paying with pesos are shelling out more money. The value of the peso fell to 14 to the dollar this week and has since leveled off around 13..

Jorge Garcia owns a Dollar shop in downtown El Paso. 98 percent of his customers come from Mexico and as soon as the peso loses value the customers stop coming.

On Thursday, Mexico's central bank said it would auction off 2.5 billion dollars in reserves in an effort to boost the peso's value.