The Peruvian currency, the sol, begins 2025 as the strongest currency in the region, after registering the lowest depreciation in 2024 against the dollar, according to statistics from the Central Reserve Bank of Peru.
"In the referred year (2024), the exchange rate closed at 3.761 soles per dollar, which meant an increase of 1.5% compared to the close of 2023," explained the banking institution.
It also explained that as of December 30, the main currencies of the region depreciated at a double-digit rate. For example, the Brazilian real rose by 27.47 percent, the Mexican peso by 21.83 percent, while the Chilean peso by 12.49 percent and the Colombian peso by 13.68 percent.
“The stability of the currency is mainly explained by the solid macroeconomic fundamentals, the credibility of the Central Bank and its monetary policy, the high level of international reserves and a surplus trade balance”, said the Central Bank.
The Central Bank also indicated that so far this century, since 2000, the sol is the currency that has depreciated the least against the dollar, with only 5.5% variation.
For its part, the Chilean peso did so by 73 percent, the Colombian peso by 95.8 percent, the Mexican peso by 111.1 percent and the Brazilian real by 213.4 percent.
"This mainly reflected an average annual inflation rate, which is the lowest this century among countries in the region with their own currency," said the Central Reserve Bank of Peru.
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(END) NDP / MDV
Published: 1/1/2025