LatinNews Daily - 28 September 2021

In brief: Peru’s nuevo sol at new low against US dollar amid nationalisation fears

* Peru’s nuevo sol has fallen to its all-time low against the US dollar, closing the day yesterday (27 September) at PEN$4.123/US$1, according to Peru’s central bank (BCRP). This represents a loss of 0.32% of the sol’s value against the dollar since 24 September, when the BCRP last published exchange rate figures. The depreciation occurred amidst widespread investor concern following Prime Minister Guido Bellido’s 26 September threat to nationalise the Camisea gas fields in the Cusco region. Yesterday, Bellido delivered a letter to the Argentine company Pluspetrol – the major partner in the consortium operating Camisea – outlining the government’s intention to renegotiate the consortium’s contract and acquire a higher share of royalties from its operations.

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