LATAM POLITICS TODAY-Ecuador detain ex-energy minister amid bribery probe

It gained 0.95% on Monday to trade at 17.42 per dollar, its strongest since May 2016. Over the last few years, the Mexican currency has mostly hovered around 20 pesos per dollar, but in the past year it has appreciated by nearly 11%, making it the currency to have gained the most against the greenback.

The latest in Latin American politics on Monday:

Ecuador detains former energy minister in graft case QUITO - Ecuadorean authorities detained a former energy minister amid an investigation into alleged bribery linked to state oil firm Petroecuador, the attorney general's office said.

An investigation of Xavier Vera, Ecuador's former minister of mines and energy, began last October following several corruption allegations, including that he arranged jobs at Petroecuador in exchange for bribes. "The attorney general's office, with the support from (Ecuadorean police) executed an arrest warrant against Xavier V., within an investigation for alleged bribery," the attorney general's office wrote in a message via Twitter, referring to Vera.

Mexico's peso hits 7-year high against U.S. dollar MEXICO CITY - Mexico's peso currency reached its highest value against the U.S. dollar in seven years. It gained 0.95% on Monday to trade at 17.42 per dollar, its strongest since May 2016.

Over the last few years, the Mexican currency has mostly hovered around 20 pesos per dollar, but in the past year it has appreciated by nearly 11%, making it the currency to have gained the most against the greenback. Mexican interest rates have been on a tightening cycle over the past two years to combat inflation. President Andres Manuel Lopez Obrador repeatedly cites the peso's strength as evidence of his administration's sound economic policies, pursuing budget austerity while pledging to avoid taking on new debt.

Venezuela opposition asked to back pausing bond payment deadline CARACAS - Venezeula's political opposition - recognized by the U.S. as the country's legitimate government - was asked by a key creditor group to back the suspension of a statute of limitations on repayments for defaulted government bonds.

President Nicolas Maduro's government in March proposed a five-year suspension through 2028 or until the United States lifts sanctions that impede a debt restructuring. A deadline on some bonds is set to expire in October, six years after the Venezuelan government stopped paying down the debt, meaning those bond holders could lose their right to ask courts to order repayment. 

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