"If we compare the last eleven years, we have data from nearly all the world for our business partners, Denmark and euro zone have been the only more stable because they trade with each other. But if we exclude the European region, the Peruvian currency has been the most stable taking into account inflation in all its trading partners in the world," he said.

Velarde said the sun is also a strong currency because it is less volatile, and last year, along with China's yuan and Japan's yen were the strongest currencies in the world.

"It's a strong currency because we are a growing economy with low inflation," he stated while discussing the Economic Outlook of Peru during a two-day meeting in the eastern region of Ucayali.

The governor of BCR noted that so far this year the central bank has intervened in the foreign exchange market to buy US$8.86 billion in the foreign exchange market and has sold US$676 million, resulting in net purchases of US$8.18 billion.

In this regard, he said the central bank constantly analyzes the exchange rate and its relation to economic fundamentals.

Finally, Velarde said Peru has seen a relative improvement in income distribution among the population.

"Income distribution has been improved, however, poverty still exists," he said.

(END) LVT/LVT/EEP