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Fitch Solutions expects the Peruvian sol to trade mostly sideways for the rest of 2024, ending the year at PEN3.75/USD from a spot rate of PEN3.79/USD. It also expects sideways trading in 2025 due to central bank FX intervention, a slightly more favourable interest rate differential and improving terms of trade.
A stable sol keeps Peruvian fishmeal and agricultural export pricing predictable for buyers, with little direct pressure on feed commodity prices.
fitchsolutions.comNov 13, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
