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Economy / Peru

PEN: Sol Will Rise Above Turmoil

August 2007 | Currency Forecast

The sol has continued to appreciate on the back of robust domestic demand, combined with a strong external sector. This has taken the unit to a nine-year high of PEN3.1458/US$, slightly above our PEN3.1500/US$ year-end target. As such, we may be inclined to revise this target, although we will wait for global markets to calm down before we do so.

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