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The Peruvian central bank said a greater supply of dollars from the mining sector is pushing up the sol, which has risen about 7% this year. The sol is South America's second-best performing currency behind Brazil's real.
High metal prices are expected to lift Peru's tax revenue above 6 billion soles this year.
Stronger mining export inflows lift the sol against the dollar, which tends to make Peruvian dollar-priced imports cheaper. For feed buyers the currency move is a minor input, with record metal prices the main driver.
reuters.comMar 11, 2022Not 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.
