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Dollar closes week at S/ 3.36, highest since 2006

The Peruvian Sol continues to fall against the dollar reaching levels not seen since 2006. Via El Comercio Peru:

The exchange rate rose on Friday to a maximum of more than nine years for purchases of dollars to companies and institutional investors due to increased expectations of a rise in the US key interest rate in December and fears about the health of China’s economy.

The dollar rose 0.21% to S / 3.363 units, matching the level of 7 April 2006. Meanwhile, the parallel exchange rate was S / 3.365.

To mitigate the decline, the Central Reserve Bank (BCR) sold US $ 70 million, at an average exchange rate of 3.3609 units.

During 2015, official sales total US $ 7.569 billion, while the local currency recorded a drop of 12.85%.

“Instability and weakness of China’s economy, the approaching end of the year and the odds for the US Federal Reserve to raise rates, continue to generate demand for dollars from corporate and institutional,” said one agent.

Full Article Here: Dólar cerró semana en S/.3,363, su nivel más alto desde el 2006 | El Comercio Peru

Sierra del Divisor: 5 keys behind creating a new national park in Peru

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 new Divisor National Park is a mountain resort located in the Amazonian lowlands, in a territory of 1,354,485 hectares (3,347,005 acres) corresponding to the territory of Ucayali and Loreto.

According to the National Service of Protected Natural Areas by the State (Sernanp), the Sierra del Divisor is geologically one of the oldest areas of the Amazon and has spectacular landscapes and is very inaccessible.

Another interesting observation point is that in the area there are species that only exist there. Its importance has meant that, finally, the Government has determined that Divisor pass be reserved as a national park. Read more

Actor from ‘Lost’ Recently Participated in a Condor release in Huarochirí, Peru

Came across this one: Via El Comercio Peru (Google translate with authors corrections for clarity)

Staff of the National Forest and Wildlife Service (SERFOR) released a condor in Huarochiri, which is in the highlands of Lima. Dominic Monaghan, actor of the ‘Lostseries and ‘The Lord of the Ringsaccompanied the team of the institution as part of the recordings for their series of documentaries about wildlife ‘Wild Things’.

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Coffee & Farming News from Peru

 

Carrying the Coffee

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.

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