Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Peru’s Sol Gains Most in Two Weeks on Global Growth Optimism

Don't Miss Out —
Follow us on:

Jan. 3 (Bloomberg) -- Peru’s sol advanced the most in two weeks as optimism that growth in the U.S. and China will offset stagnation in Europe spurred demand for higher-yielding, emerging-market assets.

The sol strengthened 0.1 percent to 2.6940 per U.S. dollar at 11:25 a.m. Lima time, from 2.6980 yesterday, according to Deutsche Bank AG’s local unit.

The Institute for Supply Management’s factory index topped estimates and U.S. government data showed construction spending grew at more than twice the forecast rate. Reports in the past two days showed a pickup in Chinese and Indian manufacturing. Copper, Peru’s top export, climbed in New York.

“The world is looking at 2012 with a bit more optimism,” said Gonzalo Navarro, the head trader at Banco Santander in Lima. “It seems like investors see more room for asset prices to increase than decline.”

The yield on Peru’s benchmark 7.84 percent sol-denominated bond due August 2020 fell two basis points, or 0.02 percentage point, to 5.73 percent, according to prices compiled by Bloomberg. The bond’s price rose 0.13 centimo to 114.17 centimos per sol.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net