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BMI, a Fitch Solutions company, forecasts the Peruvian sol will trade mostly sideways, ending 2024 at PEN3.65/USD from a spot rate of PEN3.73/USD. It expects the trend to persist into 2025 with an end-2025 forecast of PEN3.60/USD, citing resilient growth and favourable interest rate differentials.
A firmer sol modestly lowers the local cost of imported feed ingredients for Peruvian buyers, but the forecast implies only slight moves and little direct effect on global feed prices.
fitchsolutions.comAug 9, 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.
