Trump's victory sends Mexican peso plummeting

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Watching the votes being tallied and accounted for on Election Day was a stressful process for all.

But for the Mexican government, it was particularly stressful as the value of the country's currency (peso) hit a shocking record low by plummeting nearly 11 percent.

SEE ALSO: 8 ways President Donald Trump will affect Wall Street

Jose Antonio Meade, Mexico's finance minister, insisted in a press conference on Wednesday:

"Mexico is in a position of strength."

The peso rose around two percent in value Wednesday morning.

Though markets all over the globe began to drop as a result of Trump's victory, "The Mexican peso has been hit hardest, it's been the biggest casualty," says chief emerging market economist at Capital Economics Neil Shearing.

CNN Money attributes this major drop off to Trump's attacks on the country throughout his campaign:

"Trump has proposed slapping tariffs on goods made in Mexico, ending the free trade agreement NAFTA, taxing cash remittances from America to Mexico, and building a wall along the border, which he says Mexico would pay for."

Yikes.

Economists are watching closely in anticipation of inauguration day with an eye on global markets to see how currency valuations will continue to dip and raise.

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Republican presidential elect Donald Trump (L) arrives to speak during election night at the New York Hilton Midtown in New York on November 9, 2016. / AFP / JIM WATSON (Photo credit should read JIM WATSON/AFP/Getty Images)

President-elect Donald Trump, shakes hands with Vice-President-elect Mike Pence during his election night rally, Wednesday, Nov. 9, 2016, in New York.

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(SAUL LOEB/AFP/Getty Images)

Republican U.S. presidential nominee Donald Trump greets supporters at his election night rally in Manhattan, New York, U.S., November 9, 2016.

(REUTERS/Carlo Allegri)

Vice president-elect Mike Pence speaks to supporters at Republican president-elect Donald Trump's election night event at the New York Hilton Midtown in the early morning hours of November 9, 2016 in New York City. Donald Trump defeated Democratic presidential nominee Hillary Clinton to become the 45th president of the United States.

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Republican president-elect Donald Trump walks on stage with his son Barron Trump, wife Melania Trump and Ivanka Trump during his election night event at the New York Hilton Midtown in the early morning hours of November 9, 2016 in New York City. Donald Trump defeated Democratic presidential nominee Hillary Clinton to become the 45th president of the United States.

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US President-elect Donald Trump greets son Eric after speaking at the New York Hilton Midtown in New York on November 8, 2016. Trump stunned America and the world Wednesday, riding a wave of populist resentment to defeat Hillary Clinton in the race to become the 45th president of the United States.

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Vice president-elect Mike Pence walks on stage with his wife Karen Pence at Republican president-elect Donald Trump election night event at the New York Hilton Midtown in the early morning hours of November 9, 2016 in New York City. Americans went to the polls yesterday to choose between Republican presidential nominee Donald Trump and Democratic presidential nominee Hillary Clinton as they go to the polls to vote for the next president of the United States.

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US President-elect Donald Trump arrives with his son Baron and wife Melania at the New York Hilton Midtown in New York on November 8, 2016. Trump stunned America and the world Wednesday, riding a wave of populist resentment to defeat Hillary Clinton in the race to become the 45th president of the United States.

(SAUL LOEB/AFP/Getty Images)

U.S. President-elect Donald Trump, speaks an election night party at the Hilton Midtown hotel in New York, U.S., on Wednesday, Nov. 9, 2016. Trump was elected the 45th president of the United States in a repudiation of the political establishment that jolted financial markets and likely will reorder the nation's priorities and fundamentally alter America's relationship with the world.

(Photographer: Andrew Harrer/Bloomberg via Getty Images)

Melania Trump and Ivanka Trump look on as Republican presidential elect Donald Trump speaks during election night at the New York Hilton Midtown in New York on November 9, 2016.

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Republican president-elect Donald Trump delivers his acceptance speech during his election night event at the New York Hilton Midtown in the early morning hours of November 9, 2016 in New York City. Donald Trump defeated Democratic presidential nominee Hillary Clinton to become the 45th president of the United States.

(Photo by Chip Somodevilla/Getty Images)

President-elect Donald Trump gives his acceptance speech during his election night rally, Wednesday, Nov. 9, 2016, in New York.

(AP Photo/John Locher)

Attendees cheer during an election night party for U.S. President-elect Donald Trump at the Hilton Midtown hotel in New York, U.S., on Wednesday, Nov. 9, 2016. Trump was elected the 45th president of the United States in a repudiation of the political establishment that jolted financial markets and likely will reorder the nation's priorities and fundamentally alter America's relationship with the world.

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