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||3.35||-0.06 %||Jun 14|
|Stock Market||20,296||-0.23 %||Jun 14|
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June 18, 2019
Economic activity remained unchanged year-on-year in April, pulling the hand brake from March’s 3.2% increase.
June 13, 2019
At its monetary policy meeting on 13 June, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.
June 7, 2019
The business confidence indicator declined from April’s 55.9 to 52.9 in May, but nevertheless remained above the 50-point threshold that separates optimism from pessimism, where it has been for over two years. May’s decline came on the back of worse assessments of current conditions, and of less rosy expectations on the economy as a whole and on the situation of the company.
June 7, 2019
Peru’s trade balance recorded a USD 259 million surplus in April, narrowing from March’s USD 471 million surplus as well as from the USD 311 million surplus recorded in the same month of last year. Exports dipped 2.3% year-on-year in April, due to lower prices more than offsetting higher quantities, following March’s much sharper 11.7% plunge.
June 3, 2019
Consumer prices in Metropolitan Lima rose 0.15% over the previous month in May, down from April’s 0.20% month-on-month rise.