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We also asked the governor about the exchange rate on pesos to Belize dollars. In the informal sector - meaning the Pesero's who ply the border - the value of the Belize dollar against the peso has been falling. Right now, reports say 1 Belize dollar will buy you less than eight pesos - the lowest rate in about a decade.

Now, we stress this is the informal sector - and those persons are not licensed money changers.

But, their local rate is a reflection of a weakening US dollar, and, thus, a weakened Belize dollar, since the Belize currency is pegged to the US.

The governor didn't want to say much about the variability:

Jules vasquez:

Kareem Michael, Governer, Central Bank
"I wouldn't comment too much on the forces or dynamics driving the appreciation of the peso vis a vis the US dollar. I would only be speculating on what those factors are and it's on both sides, the Mexican and also the United States economy. But obviously this is a system, this is a difference in a pegged exchange rate, which the dollar is pegged to the United States dollar, whereas the Mexican peso floats freely based on demand and supply factors and a whole slew of other factors against the US dollar."

"So naturally when you this will happen, when you have to different exchange rate systems where the conversion from floating to fix is really dependent on that currency, which floats because the bills that are just hard pegged to 2 to 1. Whatever happens on the Mexican side, because it's floats will then be translated worth it? I believe so."