Word: pesos
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Dates: during 1980-1989
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...result of two devaluations of the peso so far this year, Mexico has become a bargain basement of U.S. tourism. An airplane ticket from Mexico City to Acapulco costs $44 this year, compared with $76 in 1981, and a room at the Hyatt Continental at the Pacific resort can be had for $42 a night, compared with $96 last year. At the famous Las Hadas resort, where the movie "10"was filmed, a couple can spend a week lolling on the beach or practicing their skiing for less than $500. The same outing a year ago would have cost Dudley...
...tropical Yoknapatawpha County, where "the silence was more ancient, and things were hard to see in the decrepit light." There, jungle folklore blends with Roman Catholicism, humor collides with myth, miracles kick up the dust of the commonplace. The actual and the surreal are like opposite sides of the peso: one lies directly underneath the other...
Plummeting Peso...
...border of Mexico and the U.S. is going through the most important crisis in the past few decades," declared Mexican President José López Portillo on a visit to Tijuana. If anything, that was an understatement. Last month's devaluation of the peso created an absolute mess for businesses in both countries. On the Mexican side, supermarket shelves were stripped clean of basic necessities by Americans who found their dollars worth three times as many pesos as they were a year ago. On the American side, merchants whose lifeblood is Mexican patronage were left standing beside silent...
Part of the plight comes from simple confusion. Once it becomes clear exactly how the food-export ban and currency controls will be enforced, business will settle down, although perhaps not thrive again. The underlying problem of the jittery Mexican peso, however, will probably remain unresolved until after Dec. 1 at least, when Miguel de la Madrid Hurtado takes over as Mexico's new President. That is a short time in the life of nations, but an eternity for beleaguered shopkeepers on both sides of the Border. -By Walter Isaacson. Reported by Sam Allis/El Paso and Cheryl Crooks/Calexico