Peru's Sol Surges the Most Since 2009 as Investors Cover Shorts
- Sol's advance erases 2016 loss as emerging currencies gain
- Copper, Peru's biggest, export rises on demand outlook
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Peru’s sol surged the most in almost seven years as a rally in emerging-market currencies erased its losses for this year and prompted traders who had wagered on declines to reverse their bets.
The sol rose 2.1 percent to 3.354 per dollar at the close of trading in Lima, its biggest one-day advance since May 2009, according to Datatec prices. The sol posted gains in 12 of the past 13 trading sessions as a rally in prices for the commodities it produces and improving sentiment toward emerging markets propelled gains.