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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 3.41 | 3.36 | 3.24 | 3.37 | 3.31 |
Peru Exchange Rate Chart
Source: Thomson Reuters.
Peru Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.0 | -0.60 % | Nov 08 |
| Exchange Rate | 3.31 | -0.06 % | Jan 01 |
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Economic News
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Peru: Central Bank keeps rates unchanged in January
January 14, 2021
At its first meeting of the year on 14 January, the Central Bank of Peru maintained its key policy interest rate at the record low of 0.25% for the ninth meeting in a row.
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Peru: Economic activity records softest contraction since February in November
January 14, 2021
Economic activity dropped 2.8% year-on-year in November (October: -3.8% yoy).
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Peru: Business sentiment falls into pessimistic territory in December
January 7, 2021
Business confidence dropped to 49.5 in December, down from November’s 52.8 and ending a run of seven consecutive months of improving sentiment.
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Peru: Merchandise exports increase at a softer rate in November
January 7, 2021
Merchandise exports edged up 2.4% in annual terms in November (October: +9.9% year-on-year) marking the third consecutive month of growth.
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Peru: Inflation drops slightly in December
January 4, 2021
Consumer prices in Metropolitan Lima increased 0.05% in December over the previous month, softening from November's 0.52% rise.
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