But the increase was not enough to calm foreign exchange markets or stem demands from abroad for action by the United States to bolster its battered currency.
Brazil's battered currency, the real, strengthened nearly 4 percent against the dollar.
Mr. Hanke's plan involved fixing the exchange rate of the battered Indonesian currency to the dollar.
Brazil's battered currency reached a new low today, as concerns grew about the nation's fragile finances.
But they said that any revival of confidence in Mexico's battered currency and economy would be fragile for a long time to come.
In desperation, Mr. Mahuad announced earlier this month that he would replace Ecuador's battered currency with the dollar.
Despite a sharp drop on Friday, the dollar is not the battered currency it was in October 1987.
The East German Government announced a series of measures today that are intended to combat widespread smuggling and speculation with this country's severely battered currency.
Financial analysts predicted that the battered currency could fall 30 percent or more and warned of a possible run on banks by Mexicans desperate to change their money.
This is the third time in less than a decade that the Russian Government has tried to revise its battered currency.