In an attempt to maintain the peso exchange rate in 1994, the Mexican central bank

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To maintain the peso exchange rate in 1994, the Mexican central bank sold dollars and purchased pesos. This was done in an attempt to stabilize the value of the peso, which was experiencing high volatility in the foreign exchange market at the time. By selling dollars and buying pesos, the central bank aimed to increase the demand for pesos and decrease the supply of dollars on the market, thereby propping up the peso's value relative to the dollar.

In an Attempt to Maintain the Peso Exchange Rate in 1994