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||5.38||-0.60 %||Jun 14|
|Exchange Rate||3.28||-0.06 %||Jun 14|
|Stock Market||21,031||-0.23 %||Jun 14|
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June 15, 2018
Economic activity accelerated strongly in April, jumping 7.8% year-on-year, double the 3.9% annual growth rate observed in March.
June 8, 2018
Peru’s trade balance recorded a USD 398 million surplus in April, narrowing from March’s USD 616 million surplus but a substantial increase from the USD 154 million surplus recorded in the same month of last year. Growth in exports remained robust in April, coming in at 23.0% year-on-year expansion from March’s strong 25.5% increase.
June 8, 2018
The business confidence indicator ticked up to 60 in May, above April’s 59.
June 8, 2018
At its 7 June monetary policy meeting, the Central Bank of Peru (BCRP) decided to keep the policy interest rate unchanged at 2.75%.
June 6, 2018
Consumer prices in Metropolitan Lima increased 0.02% month-on-month in May, contrasting April’s 0.14% decline.