9/2/15 The Texas Tribune
But Norton, president of the Laredo Merchants’ Association, has seen business at his La Fama clothing store drop off in recent months due, in part, to the depreciation of the Mexican peso.
On Tuesday, about 17 Mexican pesos equalled one U.S. dollar, up from about 13 in September 2014. For people like Norton, who estimates that 70 to 80 percent of his clientele is from Mexico, that means the fall and winter shopping seasons will be unpredictable at best.
“Unfortunately downtown Laredo is experiencing a decline that nobody’s happy with,” Norton said.