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||5.43||-0.60 %||Oct 15|
|Exchange Rate||3.29||-0.06 %||Jul 11|
|Stock Market||20,699||-0.23 %||Jul 11|
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July 15, 2019
Economic activity increased a lackluster 0.6% in year-on-year terms in May, following the flat reading recorded in April—which marked the worst result in nearly 10 years.
July 11, 2019
At its monetary policy meeting on 11 July, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.
July 5, 2019
The consumer confidence indicator published by GfK fell to 92 points in June from 96 points in May.
July 5, 2019
Peru’s trade balance recorded a USD 29 million surplus in May, narrowing from April’s USD 251 million surplus as well as from the USD 580 million surplus recorded in the same month of last year. Exports nosedived 15.5% year-on-year in May, due to both lower prices and quantities, following April’s much softer 2.2% dip.
July 5, 2019
The business confidence indicator plunged from May’s 52.9 to 49.8 in June, and therefore moved below the 50-point threshold that separates optimism from pessimism, for the first time since March 2017. June’s decline came against the backdrop of a broad-based deterioration in macroeconomic expectations.