The Mexican peso slightly dropped today as the central bank kept the interest rates unchanged for the record stretch of time and suggested that that it may keep the rates at the present levels even longer.

Banco de Mexico kept its benchmark rate at 4.5 percent as was expected. The rate was unchanged for 16 consecutive months. Agustin Carstens, the Governor of the Bank of Mexico, explained this decision by the concern that the inflation would slow despite the increasing commodity prices.

USD/MXN rose from 12.049 to 12.061 as of 10:43 GMT after it went down to 12.032 earlier.

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