{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='MEXICO: PESO PLUNGES TO NEW LOW LEVEL' data-url='/boclips/videos/5c54bfc5d8eafeecae145adb' data-video-url='/boclips/videos/5c54bfc5d8eafeecae145adb' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nMEXICO: PESO PLUNGES TO NEW LOW LEVEL\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eSpanish/NatMexico's already battered peso has plunged in the financial markets amid rumours of a military coup and increased army activity in the rebellious state of Chiapas.The currency closed at 7-point-4 pesos to the dollar (U-S)...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eSpanish/Nat\u003cbr/\u003eMexico's already battered peso has plunged in the financial markets amid rumours of a military coup and increased army activity in the rebellious state of Chiapas.\u003cbr/\u003eThe currency closed at 7-point-4 pesos to the dollar (U-S) Friday,  not far from the record low of 7-point-5 in March.\u003cbr/\u003eBut the Mexican President Ernesto Zedillo has dismissed rumours of the coup as complete nonsense.\u003cbr/\u003eWild rumours of a military coup in Mexico have once again highlighted the vulnerability of the New Peso.\u003cbr/\u003eThe rumours sent the battered Mexican currency tumbling to 7-point-4 pesos per dollar (U-S), just shy of the all-time low of 7-point-5.\u003cbr/\u003eIt was a hectic week in the Mexican markets, with the peso regaining strength when it broke the psychologically critical 7-point-nought barrier but ending up on the losing side.\u003cbr/\u003eThe peso's weakness belies President Ernesto Zedillo's reassurances the Mexican economy is on the mend.\u003cbr/\u003eAnalysts say the weak peso is wide open for unscrupulous investing tactics.\u003cbr/\u003eSOUNDBITE: Spanish\u003cbr/\u003eThis is a perfectly well orchestrated campaign. All of a sudden, investors and bank executives started exchanging information about rumors of a military coup. For instance, bank executives, brokers, investors and CEO's from around the world called Mexican investors and analysts to find out whether it was true.\u003cbr/\u003eSUPER CAPTION: Alberto Barranco Chavarria, Economic Analyst\u003cbr/\u003eAccording to Barranco, the culprits are US investors who borrow heavily on short-term Mexican bonds which the Mexican government must repay in dollars.\u003cbr/\u003eSOUNDBITE: Spanish\u003cbr/\u003eThis benefits those people. The cheaper the dollar is, the less they have to pay in their debt payments.\u003cbr/\u003eSUPER CAPTION: Barranco again\u003cbr/\u003eRegardless of who started the rumour, analysts agree that Friday's events confirm that the Zedillo administration lacks critical credibility among international investors, the same ones whose capital Zedillo is counting on to come out of the worst economic crisis in a decade.\u003cbr/\u003eThe ultimate victims of the peso vulnerability are the Mexican consumers.\u003cbr/\u003eSOUNDBITE: We all feel the pinch. I must make my credit card payments in dollars. So I have no choice but to buy dollars. There is so much uncertainty. This week the peso fluctuated from 6.95 to 7.80 to 7.50. So you don't know what's gonna happen. I'd rather buy now in case it goes all the way up to 8.0 next week.\u003cbr/\u003eSUPER CAPTION: Vox Pop\u003cbr/\u003eLast week, Zedillo announced the Alliance for Recovery program, a package of incentives to spur employment, raise wages and encourage industrial growth. The plan was signed by the government, the unions and the country's business leaders.\u003cbr/\u003eThe initiative has had very little impact in the overall economic landscape, however. And the road ahead is rough.\u003cbr/\u003eSince December, Mexico has lost more than a million jobs, the peso has fallen more than 50 percent  against the dollar, prices have climbed by 40 percent and the economy has shrunk by 5-point-7 percent.\u003cbr/\u003eMexico City, 3rd November 1995\u003cbr/\u003e1. Bureau de Change\u003cbr/\u003e2. Close-up of dollar quotation\u003cbr/\u003e3. man buying pesos\u003cbr/\u003e4. SOUNDBITE: Barranco\u003cbr/\u003e5. man buying pesos\u003cbr/\u003e6. SOUNDBITE: Barranco\u003cbr/\u003e7. SOUNDBITE: Voxpop \u003cbr/\u003e8. 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1995\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' 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