16 When the Mexican peso collapsed in 1994, declining by 37 percent, 2.85 pt O U.S. firms that exported to Mexico and priced in pesos, but not dollars, were adversely affected. O U.S. firms that exported to Mexico and priced in dollars, but not pesos were adversely affected. O U.S. firms were unaffected by the peso collapse, since Mexico is such a small market. O U.S. firms that exported to Mexico and priced in peso were adversely affected, and U.S. firms that exported to Mexico and priced in dollars were adversely affected. << Previous N