# Peru lags behind emerging peers after S&P downgrade: Andes FX - Infobae

> 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.

- Date: 2022-03-21 · published 2022-03-21T12:00:00.000Z
- Category: macro · region Peru · magnitude low
- Page: https://feedsoft.ai/events/42541-peru-lags-behind-emerging-peers-after-s-and-p-downgrade-andes-fx-infobae
- Commodities: [Peruvian Sol (PEN per USD)](https://feedsoft.ai/c/USDPEN.md)

## Why it matters

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.

## Read by commodity

- USDPEN: bullish ▲

## Sources

- infobae.com: https://www.infobae.com/en/2022/03/21/peru-lags-behind-emerging-peers-after-sp-downgrade-andes-fx/

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