After the start of the trading session, the US dollar traded at a 3.71 sole, an increase of 0.41% compared to the previous day's value when it ended with a 3.70 sole.
Taking into account the data for the last 7 days, the US dollar has risen 0.44%, which is still 0.05% over the course of the year. Analyzing this data with the data of the previous day, it ends two consecutive sessions. In relation to last week's volatility, it is 3.26%, which is noticeably lower than the annual volatility figure (18.85%), which indicates that the price fluctuates less than the recent general trend.
In theannual photo, the US dollar turned into a 3.99 sole, and the lowest level was 3.66 soles. The US dollar is closer to a low point than its maximum.
Unstable Peruvian sun
The sun was a legal tender in Peru since 1991 and replaced the inti that circulated between 1985 and 1991. Initially it was also called “Nuevo Sol” to distinguish it from its predecessor, but in 2015 it was called the sun.
The emergence of the new sun is understood after the world crisis of 1929, which not only led to the creation of the Central Reserve Bank of Peru, but also caused a serious economic and exchange rate crisis in the country. In the first year of the government of Alberto Fujimori, a new sun was promoted to balance hyperinflation and rearrange the economy.
After fermentation, the sol was equivalent to a million intis or a billion “old” suns. Today, the currency is divided into 100 cents, and its issuance is regulated by the Central Reserve Bank of Peru.
Currently, coins of 10, 20, 50 cents, 1, 2, and 5 soles and banknotes of 10, 20, 50, 100, and 200 soles are in circulation. Previously, 1 cent coins were also issued, but they were withdrawn from circulation in May 2011, and 5 cent coins were not in circulation in January 2019.
On the other hand, the exchange rate parity against the dollar and the euro is fixed daily by the authorities in charge. Since 2014, the Peruvian currency has been depreciated.
Regarding the economy, the World Bank (WB) predicts that by 2022 Peru will only grow by 3.2% after rebounding 13% in 2021. Similarly, by 2023 it will slow down to grow only 3%.
However, experts assured that business credibility could be compromised in the face of the uncertainty that exists in the policies and fiscal rules that Peru intends to carry out.
Agencies
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