The Peruvian Sol continues to fall, and the stock market in Lima opened lower as world markets are reacting to the continued crash in China stock prices.
Via El Comercio Peru (Google Translate with editors corrections for clarity – original below.)
Amid the collapse of shares in China, the Dollar rose at the beginning of the exchange session, BVL falls
The exchange rate continues to rise since the start of the exchange session today, in tune with what is happening in global money markets to sharp losses on Wall Street, the decline of manufacturing indices in China, and given fears of the slowing global economy.
At 10:00 local time, the exchange rate stood at S / 3.285, up from S / 3.270 level of the previous session. Meanwhile, in the parallel market the dollar traded at S / 3.30, while the windows of major banks was sold in S / 3.347.
A BLOW TO THE BVL
The Lima Stock Exchange (BVL) started today’s session with losses, infected by global stock markets and in line with the declines in the prices of base and precious metals in the international market which affected essentially mining and financial stocks.
The General Index of the Lima Stock Exchange (BVL), the most representative of the local bourse, began the session down 3.25% from 10.193 to 9.862 points.
The Selective Index of the Lima stock market, which is comprised of the 15 most traded shares on the market, back 2.9%, from 256.94 to 249.48 points.
©2015 Ben Gangloff
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