Mexico City, Mexico - The peso is currently at a six month low as the euro-zone debt crisis, combined with lackluster US economic forecasts, continues to hurt currencies in emerging economies across the globe.

By the close of markets on Friday the peso was quoted at 14.02 to the US dollar.

As it has done many times since 2009 when the peso has been under pressure, Banco de Mexico intervened to sell dollars to prop up the currency.

The Governor of Banco de Mexico, Agustin Carstens, said recently that the peso’s recent slide is a result of external factors, and not symptomatic of any hiccups in Mexico's economy.

On the contrary, he said the nation’s GDP would grow by four percent in 2012 and register a second consecutive annual increase, although most financial experts estimated the economy would grow by only 3.25 percent this year.

While the election campaign in the US will focus mainly on the domestic economy, Mexico’s electorate may not be voting so much with their pocketbooks but more with an eye as to what the future political and social landscape will be like if, as expected, the Institutional Revolutionary Party (PRI) returns to power after 12 years in opposition.

From an economic perspective, however, a PRI victory will almost certainly mean that the stalled labor, fiscal, and energy reforms that many economists believe the country urgently requires to remain competitive, will be fast-tracked into law.