Mexican President Nominates Deputy Finance Minister Victoria Rodriguez as Next Central Bank Chief

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MEXICO CITY—Mexican President Andrés Manuel López Obrador nominated Deputy Finance Minister Victoria Rodríguez as the next governor of the Bank of Mexico, sparking a sharp depreciation of the peso on concerns about her independence and technical qualifications.

The peso fell as far as 21.60 against the U.S. dollar following the announcement from 20.19 Tuesday, before recovering some to 21.45.