The U.S. dollar (US$) weakened against the Peruvian sol (S/), trading at S/3.48 in the interbank market at the close of the previous session, thus posting a negative variation of 8.59% over the past 12 months and a 7.47% drop so far this year against Peru's currency.
Likewise, the U.S. dollar reached its lowest exchange rate in the past five years against the Peruvian currency in the previous session, even posting a similar level to that of March 2016.
The Peruvian currency's strength against the dollar is partly supported by the South American country's higher international reserves.
They amounted to US$87.743 billion at the end of last August, well above the US$80.771 billion recorded in the same month of 2024, according to statistics from the
Central Reserve Bank.
The dollar's price in the local market is also influenced by the greater inflow of U.S. currency, as a result of Peru's growing exports.
These positive outlooks are supported by higher prices of the two main minerals exported by Peru to various countries across different continents: copper and gold.
Thus, the gold price now stands at US$3,642 per ounce, a 38.5% increase from January to September 10, 2025.
Meanwhile, copper prices have also risen 14.15% so far in 2025, trading at US$4.5 per pound.
Moreover, international markets expect a weaker dollar this year due to uncertainty surrounding U.S. trade policy.