(Bloomberg) The Peruvian sun fell, cutting recent gains, after the government declared a curfew in capital Lima on Tuesday to curb the violent protests against inflation that have intensified in recent days.
The currency fell 1.2% to 3.6895 per dollar, around 9:45am local time, after Monday reached its strongest level so far this year. It then recorded a shift towards depreciation as protests intensified, with the government deploying the army after bus drivers blocked roads.
The Peruvian sol has the third best performance among major currencies this year, with an increase of around 9%, which opens room for traders to gain from the recent advance.
The Government announced on Monday that it will reduce the fuel consumption tax by 90 per cent and propose a bill to exclude basic foods such as chicken, eggs, flour, pasta from sales tax and also approved by decree a 10 per cent increase in the minimum wage
Original
Note:Peruvian Sun Weakens After Lima Imposes Curfew Amid Protests
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