# Increased mining supply pushing Peruvian currency higher -cenbank

> 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.

- Date: 2022-03-11 · published 2022-03-11T12:00:00.000Z
- Category: macro · region Peru · magnitude low
- Page: https://feedsoft.ai/events/42540-increased-mining-supply-pushing-peruvian-currency-higher-cenbank
- Commodities: [Peruvian Sol (PEN per USD)](https://feedsoft.ai/c/USDPEN.md)

## Why it matters

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.

## Read by commodity

- USDPEN: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/americas/increased-mining-supply-pushing-peruvian-currency-higher-cenbank-2022-03-11/

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