Despite the
According to the
Central Reserve Bank (BCR),
this stability shown by the Peruvian currency has been maintained so far this century.
"The sol is a stable currency in the long term; it is one of the few currencies that has remained stable this century," BCR Economic Studies Central Manager Adrian Armas stated, at a press conference following the presentation of the July Monetary Program.
Armas indicated that the performance of the local currency is subject to global trends, particularly a decline of the U.S. dollar.
On the other hand, the expert pointed out that markets remain concerned about a larger fiscal deficit in the U.S. economy and a higher level of public debt, which could further affect the value of the greenback.
"This year, the dollar has been characterized as a weak dollar. Against the basket of currencies it is traded with, there is a widespread weakening," he emphasized.
As of the close of July 14, the exchange rate stood at 3.56 soles per dollar. This represents a 5.16% drop so far in 2025.
(END) GDS/JJN/JMP/MVB