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
|Exchange Rate (vs USD)||2.80||2.99||3.41||3.36||3.24|
5 years of economic forecasts for more than 30 economic indicators.
Peru Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||5.13||-0.60 %||Aug 14|
|Exchange Rate||3.32||-0.06 %||Aug 15|
|Stock Market||19,533||-0.23 %||Aug 15|
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August 13, 2018
Peru’s trade balance recorded a USD 1,164 million surplus in June, the highest print so far this year, widening from May’s USD 544 million surplus as well as from the USD 790 million surplus recorded in the same month of last year. Growth in exports remained robust in June, coming in at 17.5% year-on-year following May’s strong 18.8% increase.
August 13, 2018
At its 9 August monetary policy meeting, the Central Bank of Peru (BCRP) decided to keep the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.
August 3, 2018
The consumer confidence indicator published by GfK remained stable at May’s 90 in June.
August 3, 2018
The business confidence indicator ticked up to 59 in July from June’s 58, moving further above the 50-point threshold that separates optimism from pessimism. Driving the increase in business sentiment was an improvement in expectations on the near-future, while expectations on the medium-term remained unchanged.
August 2, 2018
Consumer prices in Metropolitan Lima increased 0.38% month-on-month in July, above June’s 0.33% rise.