stated that the Peruvian sol is the most stable currency in Latin America so far this century, supported by lower inflation and the country's macroeconomic strength.
"The Peruvian sol is the most stable currency in the region over the past 25 years," Velarde stated during his presentation before Congress' Budget Commission on Tuesday.
By way of comparison, Velarde noted that other countries, such as Brazil, saw their currency depreciate by nearly 200%, Mexico by almost 100%, while in Colombia and Chile their currencies depreciated by more than 70% in each case.
"The Peruvian sol has remained the most stable currency so far this century, due to its lower inflation and macroeconomic strength," he pointed out.
Reserves
The BCR governor mentioned that the level of reserve assets is equivalent to 28% of Gross Domestic Product (GDP) as of August 2025.
"This is the highest level recorded in the region," he noted.
With this, Velarde underlined that international coverage indicators remain strong, which will allow Peru to deal with possible external shocks.
Net International Reserves (NIR) totaled US$88.642 billion as of September 17.
Private investment
On another note, Velarde mentioned that private investment will grow 6.5% in 2025 and 3.5% in 2026.
"Private investment grew 9% in the first half of this year, driven by double-digit growth in the non-residential, non-mining component," he remarked.