Mexico’s central bank chief Agustin Carstens resigned Thursday, officials said, sending the peso on its latest plunge since Donald Trump won the US presidential election last month.

Carstens, who had compared Trump with a maximum Category Five hurricane because of his tough stance toward Mexico, will step down on July 1 next year, the Banco de Mexico said in a statement.

He is leaving to take up the post of general manager of the Bank for International Settlements, the Switzerland-based bank for central banks.

Analysts describe Carstens as a steady and experienced hand at the tiller amid a period of volatility for Latin America’s second-largest economy.

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