Peruvian sol weakens to 3.432 per dollar on US data

The US dollar opened at 3.432 Peruvian soles on Tuesday, September 29, after closing the previous session at 3.442 soles. The sol traded in negative territory during early operations while the US Dollar Index rose 0.20% to 101.378 points amid elevated US Treasury yields and fresh employment signals.

Jorge Luis Huayta, FX trader at Kambista, noted that US JOLTS job openings rose to 7.271 million from a revised 7.182 million in June, coming in below the market expectation of 7.30 million. Huayta added that traders are monitoring upcoming speeches by Federal Reserve officials during the session.

Commodity prices provided mixed support for resource-linked currencies. Gold rose 1.16%, silver gained 0.64%, and copper advanced 0.17%. Meanwhile, oil prices dropped, with WTI down 2.48% and Brent declining 2.10% ahead of weekly crude inventory data.

In Peru, the market monitored the minimum wage increase to 1,230 soles starting in October, with an initial 100-sol hike and a potential second tranche of 70 soles subject to evaluation in 2027 depending on the El Niño weather phenomenon. Private and mining investment forecasts remain supportive for the annual foreign exchange balance.

The session also opened with central bank deposit maturities totaling 13,554.8 million soles, alongside overnight system deposits. Huayta stated that local currency liquidity will be a key factor during the session for bank positions and central bank market interventions.