Exchange Rate in Peru
Peru - Exchange Rate
Peruvian sol falls to 14-year low
The Peruvian sol (PEN) continued its steady decline in recent weeks, tumbling past the psychological barrier of 3.50 PEN per USD for the first time in 14 years. On 11 February, the sol traded at 3.52 PEN per USD, which represented a 2.5% depreciation over the same day in January and a substantial 14.0% fall in value compared to the same day last year. The sol has slipped 2.9% against the dollar so far this year.
The depreciation of the sol in recent weeks coincides with ongoing weakness in the Peruvian economy as the export sector decelerates and commodity prices hover at multi-year lows. In addition, poor economic data from China, a major importer of Peruvian exports, has fueled the currency’s decline. In an effort to stem the currency’s weakening, the Central Bank has raised the interest rate four times in six months and continues to sell USD reserves in local markets.
Panelists participating in the LatinFocus Consensus Forecast survey do not expect the sol to recover in 2016, with the exchange rate ending the year at 3.57 PEN per USD. For 2017, the panel sees the sol trading at 3.63 PEN per USD.
Peru - Exchange Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 2.80 | 2.99 | 3.41 | 3.36 | 3.24 |
Peru Exchange Rate Chart
Source: Thomson Reuters.
Peru Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 5.43 | -0.60 % | Oct 15 |
| Exchange Rate | 3.31 | -0.06 % | Mar 11 |
| Stock Market | 20,661 | -0.23 % | Mar 11 |
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Economic News
Peru: Economic activity growth cools in January
March 15, 2019
Economic activity expanded 1.6% year-on-year in January, decelerating sharply from December’s strong 4.7% increase and marking the weakest reading in over one year. Growth came on the back of resilient consumer spending, as well as a strong expansion in non-traditional exports.
Peru: Inflation broadly stable in February
March 8, 2019
Consumer prices in Metropolitan Lima increased 0.13% over the previous month in February, slightly up from January’s 0.07% month-on-month rise.
Peru: Trade surplus narrows in January on falling exports
March 8, 2019
Peru’s trade balance recorded a USD 374 million surplus in January, narrowing from December’s USD 1.1 billion surplus and lower than the USD 684 million surplus recorded in the same month of last year. Exports declined 6.2% year-on-year in January, following December’s sharper 7.4% fall.
Peru: Consumer confidence surges in February
March 8, 2019
The consumer confidence indicator published by GfK jumped to 104 in February from 93 in January, marking the best result in over two years.
Peru: Business confidence moves further into optimistic territory in February
March 8, 2019
The business confidence indicator ticked from January’s 58.0 to 59.0 in February, and thus moved further above the 50-point threshold that separates optimism from pessimism, where it has been for almost two years. A broad-based albeit limited improvement in short- and longer-term expectations was behind the positive development.
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