In 1994, Ernesto Zedillo Ponce De Leon was faced with an economic crisis during which The Peso was Devlaued.
Peso is the Mexican currency and in the 1994 when the economic crisis was at its height, the President of Mexico, Ernesto Zedillo revalued the Peso in order to increase Mexican exports.
The President was also an experienced economist and believed that by devaluing the Peso, Mexican exports will get even more cheaper for the United States market, helping to make Mexican exports more attractive.
