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 | 3.33 | -0.06 % | May 13 |
| Stock Market | 19,958 | -0.23 % | May 13 |
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Economic News
Peru: Economic activity gains traction in March
May 16, 2019
Economic activity expanded 3.2% year-on-year in March, picking up pace from February’s 2.1% increase.
Peru: Trade surplus widens in March but strike at Las Bambas mine hampers exports
May 10, 2019
Peru’s trade balance recorded a USD 431 million surplus in March, widening from February’s USD 336 million surplus but lower than the USD 667 million surplus recorded in the same month of last year. Exports dived 11.8% year-on-year in March, due to lower prices and quantities, following February’s much softer 3.6% fall.
Peru: Central Bank holds its ground in May
May 9, 2019
At its monetary policy meeting on 9 May, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.
Peru: Businesses grow more pessimistic in April
May 8, 2019
The business confidence indicator declined from March’s 59.6 to 55.9 in April, but nevertheless remained above the 50-point threshold that separates optimism from pessimism, where it has been for two years. April’s decline came on the back of a broad-based deterioration in the sub-components of the index.
Peru: Inflation at 19-month high in April
May 8, 2019
Consumer prices in Metropolitan Lima rose 0.20% over the previous month in April, down notably from March’s 0.73% month-on-month rise, which had marked the fastest rise in two years.
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