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If the peso depreciates, the value of cash flows from the firms exports (in pesos) . However, if the peso appreciates, the value of the

If the peso depreciates, the value of cash flows from the firms exports (in pesos) . However, if the peso appreciates, the value of the cash flows from those exports (in pesos) . If the peso depreciates, the interest owed on borrowed funds from Mexico . However, if the peso appreciates, the interest owed on borrowed funds from Mexico .

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