The US dollar is trading at the opening at 3.73 soles on average, accounting for 0.04% compared to the previous day's value of 3.73 soles on average.
If we consider the data for the past seven days, the US dollar accumulates a rise of 0.43%; on the contrary, in year-on-year terms it still accumulates a decline of 5.61%. Compared to past days, it ends two trendy days. In the last week, volatility is visibly lower than the data achieved for the last year (18.51%), which indicates that it is having a more stable behavior than usual in recent times.
In the last year, the US dollar has changed by a high of 3.99 soles on average, while its lowest level has been 3.61 soles on average. The US dollar is positioned closer to its low than to its maximum.
An unstable Peruvian sun
The sun has been the legal tender in Peru since 1991 and replaced the inti, which circulated between 1985 and 1991. At first it was also called the “nuevo sol” to differentiate it from its predecessor, but by 2015 it is called only the sun.
The emergence of the new sun is understood after the world crisis of 1929, which led to a deep economic and exchange rate crisis in the country, as well as the creation of the Central Reserve Bank of Peru. It was during the first year of Alberto Fujimori's government that the new sun was promoted to balance hyperinflation and reorder the economy.
After it entered into force, a sol was equivalent to one 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 circulating. Before, 1-cent coins were also minted, but these were withdrawn from circulation in May 2011, while in January 2019 the 5-cent coins came out of circulation.
On the other hand, the exchange rate parity with respect to the dollar and the euro is fixed daily by the agency in charge. It should be noted that since 2014 the Peruvian currency has been in depreciation.
As for the economy, the World Bank (WB) has predicted that by 2022 Peru will have growth of only 3.2% after it had a 13% rebound in 2021. Likewise, by 2023 it would slow down to grow by only 3 percent.
However, experts have assured that Peru could experience a deterioration in business confidence in the face of the uncertainty that exists in the policy and fiscal rules that are intended to be carried out.
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