The Peruvian Sol continues to fall against the dollar reaching levels not seen since 2006. Via El Comercio Peru:
The exchange raterose on Fridayto a maximum ofmore than nine yearsfor purchases ofdollarstocompaniesand institutional investors due to increased expectationsofa rise in the USkey interest ratein December andfearsabout the health ofChina’s economy.
Thedollar rose0.21% to S/3.363units, matching the level of 7April 2006.Meanwhile, theparallel exchange ratewasS/3.365.
To mitigatethedecline,theCentralReserve Bank (BCR) sold US$70 million, at an average exchange rateof3.3609units.
During2015, official salestotal US$7.569 billion, while the local currencyrecordeda drop of12.85%.
“Instabilityand weaknessofChina’s economy, the approaching endof the year andthe odds fortheUSFederalReserveto raise rates, continue to generatedemand for dollarsfromcorporate and institutional,” said one agent.
Peru has just created a huge new National Park in the Amazon region of Ucayali.
Via El Comercio Peru (Translating via Google Translate with author’s corrections for clarity.)
The newDivisorNational Parkis amountain resortlocated in theAmazonian lowlands, in a territory of1,354,485hectares (3,347,005 acres) correspondingto the territory ofUcayaliandLoreto.
According to the NationalService of ProtectedNatural Areasby the State (Sernanp), theSierradel Divisorisgeologicallyone ofthe oldest areasof the Amazon andhas spectacularlandscapesand is very inaccessible.
Recently three new orchids discovered in the Machu Picchu Archeological park were registered and their discoverers honored by being named officially in the new species.
Came across this one: Via El Comercio Peru (Google translate with authors corrections for clarity)
Staffof the National Forestand WildlifeService(SERFOR) releaseda condorinHuarochiri, which is in the highlandsofLima.DominicMonaghan, actor ofthe‘Lost‘ seriesand‘TheLord of the Rings‘ accompanied the teamof the institutionas part ofthe recordings fortheir series ofdocumentaries aboutwildlife‘WildThings’.
Here’s an update on some recent articles that I’ve seen on farming & coffee production in Peru. This year Peru is slowly climbing back from the coffee rust which decimated production in 2012. Even last year, coffee production was still less than half of 2011.
The dollar has risen considerable vs the Peruvian Sol (currently S./ 3.14 to $1 USD.) Export prices are down, so there should be a good market, but with coffee prices low, it will be a hard year for many & difficult to cover costs.
In the farming country in the south of the country there have been clashes between police and protesters over a proposed copper mine, meanwhile the government is providing fertilizer and aid in other areas.