ABC-7 Xtra: Strong Peso impacting the Borderland’s economy
EL PASO, Texas (KVIA) -- The value of the Mexican peso has increased by an estimated 18%, but a strong peso could be a double-edged sword: good news for some, bad news for others.
The signs on marquees up and down currency exchange houses in downtown El Paso show a changing economy. The value of the peso is up around 18% from just a few months ago.
It's good news for merchants who are counting on the peso to stay strong. Lisbeth Salazar, a merchant downtown, says sales at her business are going up.
The news is bad for Gabriel Matos, however. He came into this currency exchange business, one of several in the downtown area, to cash in his pesos.
Matos says his purchasing power is weaker once he exchanges his pesos for dollars.
Salazar says last week, sales hovered around $300 dollars daily. She says this week sales are reaching $800 dollars and more.
Sunday on ABC-7 Xtra, host Saul Saenz speaks with UTEP economics Professor, Tom Fullerton, as well as with real estate developer Tanny Berg, about the impact a strong peso can have the Borderland's economy.
