The conversation between human and AI assistant.
What happened in 2008 when the Mexican pesos went from 9.8 to over 15 per dollar?
Can you tell me what happened in 2008 when the Mexican pesos went from 9.8 to over 15 per dollar?
In 2008, the Mexican economy was greatly affected by the financial crisis which originated in the United States. The fall of the US housing market led to a decrease in demand for Mexican exports and a decrease in remittances from Mexican workers in the US, which caused a decrease in the value of the peso.