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Peru's Economy and Finance Ministry said it will keep converting sovereign debt into soles, with the share of debt in local currency rising from 5% to 60% and a target of 70% to 75%. Weekly sol auctions are consistently oversubscribed, and a recent PEN100m placement was 4x covered.
Officials also discussed possible future international bond operations.
Peru's shift toward local-currency debt reduces its reliance on dollar funding, which is a macro factor with no direct bearing on feed commodity supply, demand or prices.
latinfinance.comLucien ChauvinJun 12, 2018Not 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.
