14:40, 10 October 2008 Page views 309 views

Mexico: Credit Cards Are Not Accepted

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On October 7, 2008, over 700 thousand Mexican citizens could not use their credit cards for payment of purchases. Experts explain the banks’ measure by a drastic (almost 6 %) fall of the Mexican stock exchange, collapse of the Mexican peso (increase since August, 2008, of the exchange rate of the US dollar from 9.6 up to 13 Mexican pesos), and a sharp decline of the oil prices.

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