Skip to main content

Mexican Intervention: Banco de Mexico Purchase on the USD (MEXINTDUSD)


2011-05-31: -600  
Updated: Jul 1, 2011


Millions of USD,
Not Seasonally Adjusted


1Y | 5Y | 10Y | Max
(a) Mexican Intervention: Banco de Mexico Purchase on the USD, Millions of USD, Not Seasonally Adjusted (MEXINTDUSD)
Source: Banco de Mexico:

(+) numbers mean purchases of USD (Sell Peso), (-)numbers mean sales of USD (Buy Peso)

1. Banco de Mexico provides background information on its "Contingent dollar sales mechanism," which constitutes sterilized
interventions (14 total) from February 1997-June 2001:

"In February 1997, the Foreign Exchange Commission, composed of officials from the Ministry of Finance and Banco de México (and responsible for Mexico's foreign exchange policy) announced the establishment of an auction mechanism to sell US dollars. This mechanism was implemented in order to ease the volatility in the foreign exchange market without violating the principles inherent in the prevailing floating exchange rate regime (see the Exchange Commission Statement and Banco de México's Circular 10/97). Implementation of the mechanism was possible due to a significant accumulation of reserves, mainly achieved through the auction of foreign exchange options.

Under this mechanism, Banco de México undertook daily sales of up to USD200 million, with a minimum price for the dollar set at 1.02 times the Mexican peso, as determined by the FIX on the preceding day. If any bids were allocated during the auction, the minimum price for the dollar on the following day was set at 1.02 times the weighted average peso exchange rate determined in the auction. The Contingent Dollar Sales Mechanism was effective until June 2001. It was triggered and implemented only fourteen days during the entire period, for a total amount of USD 1.950 billion sold. Furthermore, almost 60% of total dollar sales took place between August 1998 and January 1999, a period that was characterized by very high volatility in international financial markets."


2. Banco de Mexico has two added notes about the history of the Contingent dollar sales mechanism:

"1. Daily auction of dollars conducted as stipulated by the Foreign Exchange Commission in the press bulletin of February 19,1997 and circular 10/97 of Banco de México. 2. On September 10,1998 there was also a discretionary intervention for 278 million dollars.”

3. Banco de Mexico has added additional intervention data. For information on new mechanisms and data please visit:


Mexican Intervention: Banco de Mexico Purchase on the USD

Select a date that will equal 100 for your custom index:

Customize data:

Write a custom formula to transform one or more series or combine two or more series.

You can begin by adding a series to combine with your existing series.

Now create a custom formula to combine or transform the series.
Need help? []

Finally, you can change the units of your new series.

Select a date that will equal 100 for your custom index:


Add data series to graph:

Log scale:


Title Release Dates

2011-07-01 2011-07-01

2011-07-01 2011-07-01

2011-07-01 2011-07-01

2011-07-01 2011-07-01

2011-07-01 2011-07-01
Seasonal Adjustment    

2011-07-01 2011-07-01

2011-07-01 2011-07-01

Retrieving data.
Updating graph.

Subscribe to the FRED newsletter

Follow us

Twitter logo Google Plus logo Facebook logo YouTube logo LinkedIn logo
Back to Top