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 % | Jan 16 |
| Stock Market | 19,582 | -0.23 % | Jan 16 |
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Economic News
Peru: Economic activity soars in November
January 15, 2019
Economic activity jumped 5.3% year-on-year in November, accelerating from October’s 4.2% increase and marking the strongest increase in six months.
Peru: Business confidence moves further into optimistic territory in December
January 11, 2019
The business confidence indicator rose to 58.0 in December from November’s 55.5, and thus moved further above the 50-point threshold that separates optimism from pessimism. A broad-based improvement in sub-indexes drove the increase in business sentiment.
Peru: Trade balance swings to surplus in November, as both exports and imports contract
January 11, 2019
Peru’s trade balance recorded a USD 586 million surplus in November, swinging into positive territory from October’s revised USD 74 million deficit (previously reported: USD 155 million deficit) and slightly lower than the USD 646 million surplus recorded in the same month of last year.
Peru: Central Bank stands pat at first meeting in 2019
January 11, 2019
At its monetary policy meeting on 10 January, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.
Peru: Consumer confidence at over one-year high in December
January 10, 2019
The consumer confidence indicator published by GfK jumped from 94 in November to 99 in December, marking the best result since October 2017.
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