Euro market price from EUR to PEN on March 17 this year

At the beginning of the day, the euro was trading at the 4.11 sole, an increase of 2.51% compared to the 4.01 sol on the previous day.

Regarding profitability in the last 7 days, the euro has risen by 1.7%, but over the course of the year it has still decreased by 8.77%. We will stop two consecutive sessions in a row where the trend is flat compared to the previous day.It can be said that the volatility in the last few days is lower in action than the volatility reflected in last year's data, so we can say that recent stability is greater.

Last year, the euro changed to a 4.52 sole, and the lowest level was a 3.97 sole. The euro is located closer to the minimum value than the maximum value.

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 Previously, 1 cent coins were also issued, but they were withdrawn from circulation in May 2011, and 5 cent coins were not in circulation in January 2019.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 were convinced that business credibility could be compromised in the face of the uncertainty that exists in the policies and fiscal rules that Peru intends to implement.

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