Peru Sol Hits Record Low as Leftist Takes Crushing Poll Lead
- Pedro Castillo widens lead over rival Fujimori to 20 points
- Investors in Peru have moved to dump stocks and bonds
Free Peru presidential candidate Pedro Castillo casts his vote for the general election, in Cajamarca, on April 11.
Photographer: Jorge Uriarte/Anadolu Agency/Getty ImagesThis article is for subscribers only.
Peru’s currency took another battering Monday after leftist presidential candidate Pedro Castillo extended his poll lead ahead of June’s runoff election to a crushing 20 percentage points.
The sol dropped 1.2% to a record low for the second consecutive trading session, underperforming all other emerging-market currencies despite intervention from the central bank. The benchmark stock index touched a five-month low.