Mexico's central bank launches aggressive monetary policy to boost peso

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MEXICO CITY -- Mexico's central bank is implementing a more aggressive monetary policy to boost the battered peso.

The Foreign Exchange Commission that is governed by the central bank and the Finance Department says the bank on Monday will start selling $100 million daily regardless of the exchange rate.

The commission said Thursday that the bank also will continue to auction dollars daily at 2 percent below the previous day's rate, but will offer $300 million for sale instead of $400 million as it has been doing.

The commission says the policy will remain until June 8. The peso dipped slightly Thursday to 15.29 to the dollar, down from 15.20 Wednesday. The peso has lost about 35 percent of its value against the dollar since August.