The Peruvian sol may continue to strengthen over the next weeks, following the trend of currencies from countries in the region, which have appreciated at higher rates than the Peruvian one, Peru’s Central Reserve Bank (BCR) Governor Julio Velarde affirmed.
The dollar was slightly higher against the sol at S/3.288 at the end of the trading session on Friday, after two consecutive trading days of weakness, given the higher demand of economic agents who seek refuge in the US currency on the weekend.
International factors
“The depreciation of the dollar was mainly driven by international factors, and the sol will remain strong, because emerging currencies have appreciated,” he said.
After the issuance of a new coin commemorating the Battle of Callao, occurred on May 2, Velarde said the Central Reserve Bank of Peru has bought more than US$4 billion and the sol continues to show strength.
“The upward pressure of many emerging currencies is quite strong, and the Brazilian real, the Chilean peso, and the Colombia peso have gained against the dollar, even more than the Peruvian sol,” he continued.
(END) JCC/JJN/RMB
Published: 4/30/2016