Mexico City, Feb 4 (Reuters) - Mexico's finance ministry announced on Tuesday that it is taking steps to ensure the stability of financial markets in response to ongoing volatility in the peso currency and local stock exchange due to the looming U.S. tariffs on Mexican exports.
Key measures include bolstering the budget revenue stabilization fund with over 100 billion pesos ($4.87 billion) and exploring avenues to enhance the debt maturity profile and minimize short-term liquidity requirements.
Moreover, the government revealed that on January 31, it refinanced 185 billion pesos of debt, extending the average debt maturity by 2.14 years, as stated by the finance ministry in a release.
The ministry highlighted the third measure of implementing a hedging program using derivative financial instruments to mitigate risks in challenging market conditions.
(Note: $1 = 20.5204 Mexican pesos)