Peru Sells Dollars in Intervention as Sol Drops to Two-Year Low
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Peru’s sol dropped to its weakest level since May 2011, prompting the central bank to intervene to bolster the currency.
The sol depreciated 0.3 percent to 2.7990 per U.S. dollar at today’s close on speculation the Federal Reserve will reduce stimulus measures that have boosted emerging-market assets. The currency extended its decline this year to 8.7 percent, according to prices from Datatec. The difference in yields on U.S. Treasury five- and 10-year securities was the widest in almost two years.