June 6, 2017 / 2:18 AM / 2 months ago

Mexico's peso undervalued, gains will counteract inflation - Cenbank

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MEXICO CITY, June 5 (Reuters) - Mexico's peso currency has been undervalued and its strengthening will counteract inflationary pressures, the head of Mexico's central bank said on Tuesday.

Banco de Mexico Governor Agustin Carstens made the comments after the peso rallied following a win by the ruling party candidate in a key state governor's race on Sunday, a development seen as a blow to a new upstart leftist party.

"The gains we saw... will also diminish inflationary pressures," said Carstens. (Reporting by Michael O'Boyle; Editing by Michael Perry)

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