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S&P downgraded Peru's long-term foreign currency debt from BBB+ to BBB, citing persistent political instability, with a stable outlook. The sol retraced 0.6% to 3.80 per dollar, lagging other South American currencies.
The Chilean peso rose as oil prices climbed amid the war in Ukraine.
A weaker sol raises the local cost of dollar-priced feed imports for Peruvian buyers. The rating action is a political and fiscal story rather than a direct commodity supply driver.
infobae.comNewsroom InfobaeMar 21, 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.
