Today the euros it is negotiated at the beginning of the sessions 4.11 medals on averageso it represents a decrease of 0.16% compared to the previous day’s figure, which was 4.11 basis points.
For the past seven days, the euros register drop in 0.95%% although, on the contrary, in terms of year on year it still accumulates an increase in 1.01%.
Regarding today’s differences compared to previous days, the tables turn compared to the previous day, when they saw an increase of 0.37%, which proved unable to establish a recent trend. The volatility of the last seven days is much lower than the data obtained for the last year (7.53%), so it has behaved more stable than expected recently.
After 2023 classified as one of the worst years for the economy, Peru’s Minister of Economy and Finance, Alex Contrerashe insisted that the conditions are being met for 2024 so that the year to recover.
The government’s calculation is to achieve an expansion of the Gross Domestic Product (GDP) of at least 3%. “Leaving aside the atypical year 2023, the Peruvian economy has great potential for growth. In general, what we envision is a recovery, without the temporary factors that played against it recently,” Contreras assured the media.
Los climatic phenomenaespecially ‘El Niño’, it could have a negative impact on the country’s economy, but the minister expressed his confidence in the stability and investment projects that he hopes will be consolidated this year.
Despite Peru’s current political crisis and against all odds, the economy of this country proud to be a of the most stable of the Latin American region, because other currencies have experienced fluctuations, the Peruvian sun is strengthened.
The coronavirus pandemic generated a series of negative economic effects around the world – such as inflation – which, along with the Russian invasion of Ukraine and local monetary policy decisions, weakened the dollar.
However, the Peruvian currency showed resilience to these events and strengthened against the greenback and the euros. If the positive factors that have supported the sun in recent months continue, the currency could continue with the same streak in the coming months and even years.
The resistance of the Peruvian sole in the face of other complications that have beaten other currencies has made it a “shelter currency”especially in countries where dollars are scarce, as in the case of Bolivia.
Although economic analysts have lowered their growth expectations for the Peruvian sol for the next two years, it is nevertheless expected that macroeconomic balances will continue to support the sun.
The sol has been legal tender in Peru since 1991 and place in itwhich spread between 1985 and 1991, originally also known as “new sun” to distinguish it from its predecessor, but in 2015 it is simply called the sun.
The origin of the new sun is understood after the world crisis of 1929, which led to a deep economic and exchange 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 achieve balance hyperinflation and reorganizing the economy.
After it came into force, one sol was equal to a million intis or a billion “old” sol; Today the currency is divided into 100 cents and its issuance is controlled by the Central Reserve Bank of Peru.
Currently distributed 10, 20, 50 cent, 1, 2 and 5 cent coins and 10, 20, 50, 100 and 200 cent bills. Previously, 1 cent coins were also minted, but these were withdrawn from circulation in May 2011, and in January 2019 the 5 cent coins went out of circulation.