# The Sol shows strength as the dollar depreciates in Peru - Forex News by FX Leaders

> The Peruvian sol closed lower against the dollar on February 20, 2024, at S/3.7840, extending recent gains. Analysts describe the currency as a safe haven in LATAM as dollars become scarce in some markets. Minister Contreras reiterated the government's expectation of at least 3% GDP growth in 2024.

- Date: 2024-02-20 · published 2024-02-20T12:00:00.000Z
- Category: macro · region Peru · magnitude low
- Page: https://feedsoft.ai/events/31972-the-sol-shows-strength-as-the-dollar-depreciates-in-peru-forex-news-by-fx
- Commodities: [Peruvian Sol (PEN per USD)](https://feedsoft.ai/c/USDPEN.md)

## Why it matters

Sol strength against the dollar makes Peruvian purchases of imported feed ingredients slightly cheaper in local terms. The move is modest and does not change the outlook for fishmeal or other feed supply.

## Read by commodity

- USDPEN: bearish ▼

## Sources

- fxleaders.com: https://www.fxleaders.com/news/2024/02/20/the-sol-shows-strength-as-the-dollar-depreciates-in-peru/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.