Peru

Rise of Humala causes currency jitters


Published

The recent rise of the left wing presidential candidate Ollanta Humala has caused currency markets in Peru to force a decline in the Nuevo sol (PEN).

The most recent poll has Humala on 17% and in third place behind a declining Alejandro Toledo (20.5%) and a stagnant Keiko Fujimori (20%). Ollanta Humala started the campaign on around 10%.

The other big riser is Pedro Pablo Kuczynski who has gone up from barely 5% to over 14% since the beginning of the campaign.

However, it is the rise of Ollanta Humala which has created market jitters and, according to analysts, the markets will continue to be volatile until after the first round of voting on 10th April. It is now almost certain that there will be a second round which more detailed opinion polling suggests would not lead to a win for Humala.

Nevertheless an Ipsos Mori poll has shown that 23% of Peruvians are likely to make up their minds on polling day and according to several experts the Peruvian people love to surprise.

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