MEXICO CITY (April 2, 2013)--Mexico's Treasury Department says the peso will end the year with an average exchange rate of about 12.5 to $1, following recent gains after earlier predicting an average rate of 12.9 to $1 when it drew up the 2013 budget last year.
The peso has since gained against the U.S. dollar.
The exchange rate stood at 12.34 to $1 Monday.
The department said it is estimating economic growth of 4 percent for 2014, a bit above the projected 3.5 percent growth rate for 2013.
It also predicted continued strength for the Mexican currency in 2014, with an average exchange rate of 12.6 to $1.
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