Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


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.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Peru Sol Gains on Bets Banks Selling Dollars Before Tax Deadline

Peru’s sol advanced on speculation banks are selling dollars to increase holdings of the local currency before taxes come due.

The sol appreciated 0.1 percent to 2.5870 per U.S. dollar at today’s close, according to Deutsche Bank AG’s local unit. That is the strongest level on a closing basis since 1996, data from Peru’s financial regulator show.

Local banks may be buying soles on the expectation that the monthly period for company tax payments that begins Oct. 12 will cause the dollar to weaken further, said Antonio Diaz, a trader at Banco Internacional del Peru in Lima.

“Banks may be selling dollars in advance” to obtain soles “a bit more cheaply,” Diaz said.

The central bank bought relatively small amounts of dollars in the spot market last week, which allowed the sol to gain 0.3 percent and encouraged speculation policy makers are tolerating greater appreciation in the currency, he said.

The central bank bought $40 million today after purchasing $20 million a day from Oct. 3 through Oct. 5. Yesterday was a public holiday in Peru.

The yield on the nation’s benchmark 7.84 percent sol-denominated bond due August 2020 was little changed at 4.25 percent, according to prices compiled by Bloomberg. The price dropped 0.03 centimos to 123.58 centimos per sol.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.