Peru's exports have become more competitive than those of other countries except those from the United States, Peru's Central Reserve Bank President Julio Velarde said Tuesday.
He said that this is because the Peruvian nuevo sol has significantly gained in value against other currencies in relation to the U.S. dollar.
"We should not focus only on the dollar, but on all currencies because the dollar is weakening against all currencies," he explained.
Velarde added that corporate interest rates remain at historically low levels, while both the reference interest rate and inflation are at very low levels.