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The Peruvian sol appreciated about 0.2% against the dollar on February 27, 2024, opening at S/3.7996 at the Central Reserve Bank. Peru's Economy Minister Alex Contreras said conditions are in place for a recovery, with GDP growth forecast at at least 3%.
He also flagged El Niño as a possible drag on economic performance.
A firmer sol lowers the local-currency cost of Peruvian imports, including feed inputs, and reflects a broader LATAM currency rally. The effect on feed prices is small and mainly indirect, with El Niño the bigger weather risk to Peruvian crops and fishmeal supply.
fxleaders.commicillogabriel@gmail.comFeb 27, 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.
