They also said the central bank would continue with daily dollar auction sales of up to 400 million US dollars under a mechanism it has been using in recent months to counter peso weakness.
The Mexican currency recovered to 14.556 per dollar after hitting 14.70 earlier in the session, its weakest since 1993.
The peso has been hammered in recent months as the US recession dampens demand for Mexico's exports, which prop up the economy, and on growing fears the slowdown is quickly spreading to the country. The currency has fallen around 5% against the dollar so far this year after a 21% slump in 2008.
