MEXICO CITY – Mexico's Central Bank says the country's currency has fallen to its lowest real level against the dollar amid turmoil on world markets, with a daily benchmark FIX rate of 11.7667.

Monday's Bank of Mexico rate is a sharp drop from 11.1188 on Friday and well below rates of about 11.4 recorded in June 2006.

The nominal rate is the lowest since 2003, when Mexico's government cut three zeros off the end of peso denominations to create a “new peso” worth 1,000 old pesos.

The currency generally tracks rises and falls in the dollar because Mexico's economy is so tightly tied to that of its northern neighbor.