Peru Currency Drops to Lowest Since 2009 After Surprise Rate Cut
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Peru’s sol slid to a five-year low after the central bank unexpectedly cut borrowing costs as lower fuel prices gave policy makers room to boost flagging growth.
The sol fell 0.4 percent to 3.015 per U.S. dollar at the close of trading in Lima, the weakest since July 2009, according to Datatec prices. The drop is the steepest among Latin America’s major currencies.