By Jamie McGee
Oct. 20 (Bloomberg) -- Mexico's peso rose as a decline in global money-market rates and a jump in stocks buoyed demand for higher-yielding, emerging-market assets.
The peso rose 0.7 percent to 12.7841 per dollar at 9:28 a.m. New York time, from 12.8760 on Oct. 17.
``We've seen some key metrics of credit and the money market activity improve overnight,'' said Omer Esiner, a foreign-exchange analyst at currency-trading company Ruesch International Inc. ``Higher equity prices tend to signal a rising willingness for investors to take on more risk. We should see the peso continue to benefit.''
The peso has dropped 16.5 percent against the dollar in the past month and has declined against 14 of the 16 most-traded currencies. Only the Australian dollar and the South African rand have weakened against the peso in the last month.
Yields on Mexico's 10 percent bond due in December 2024 fell 1 basis point, or 0.01 percentage point, to 9.39 percent. The bond's price rose 0.11 centavo to 105.02 centavos per peso, according to Banco Santander SA.
To contact the reporter on this story: Jamie McGee in New York at jmcgee8@bloomberg.net
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