Mexico's peso, which has been hammered by tanking oil prices, still has room to strengthen, Central Bank Governor Agustín Carstens said on local radio on Friday.
To protect the peso from a deeper slump, the central bank in February surprised markets by delivering a 50 basis point rate hike and unleashing a new programme for direct market intervention.
However, Carstens said the bank had not had to intervene in markets since the February announcements.
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