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#Peru currency rates how to#
#Peru currency rates series#

Of six analysts and traders Reuters spoke to, four projected that the sol, now at a seven-month high of 3.9 per dollar, would strengthen this year to as high as 3.8 per dollar. “I think the main factor that would help the exchange rate is if the benchmark interest rate continues to rise,” said Asvim Asencios, a currency trader at Renta4 SAB Peru. Higher rates encourage investment and savings. Peru has hiked its interest rate for six consecutive months, lifting it to 3% last week in a cycle that is expected to continue as the central bank seeks to rein in inflation. “Monetary policy also looks to be moving rapidly towards levels of neutrality.” “A structural factor is that there is a lot of dollar inflow from exports,” said Hugo Perea, chief Peru economist for BBVA Research.

#Peru currency rates series#

Now, despite the ongoing risk of potential political disruptions, its outlook has turned rosier on a recent series of interest rate hikes, a weaker dollar, strong commodities prices, and a better outlook for government tax incomes. READ ALSO: Peru’s Central Bank joins global push to develop a digital currency The sol hit a record low against the dollar last year and ended down over 10%, one of Latin America‘s worst performers. The currency has risen more than 2% against the dollar this month, hitting its strongest level since outsider leftist Pedro Castillo become president of the world’s no. Peru’s sol currency, which plunged last year due to political risk, is bouncing back so far in 2022 and likely to keep strengthening, analysts and traders said, as interest rates rise and copper prices soar. One said it would weaken to 4.15 per dollar.

Of six analysts and traders Reuters spoke to, four projected that the sol, now at a seven-month high of 3.9 per dollar, would strengthen this year to as high as 3.8 per dollar.

Higher rates encourage investment and savings

Peru has hiked its interest rate for six consecutive months, lifting it to 3% last week in a cycle that is expected to continue as the central bank seeks to rein in inflation.

It is now time to fill the sign-up form on the money transfer provider's website - be aware you will often need to give an ID and/or a proof of adress - and set upyour transfer to Peru. Sign up and start your transaction with the service of your choice

Choose the best service for your personal needsĭo you want to make a transfer to Peru with the cheapest option, as quickly as possible or with the solution with the best customer reviews? 4. Using the best money transfer provider from the list is the best way to save on costs. Monito lists 31 services to transfer money to Peru, such as Wise, Wise Multi-Currency Account, Remitly, Revolut, Azimo. Compare up to more than thirty money transfer providers sending money to Peru in order to select the best provider. Monitor the evolution of the Peruvian Sol exchange rate and convert your money when the PEN rate gets to a specific level. Make sure the PEN conversion rate is favorableĮven though the currency market is fluctuating, it is a good idea to monitor it to maximize how much Peruvian sols your will get against your own currency.

#Peru currency rates how to#

Learn how to transfer money to Peru with the best exchange rate in a few easy steps 1.