Polls For Election in Peru
Posted on 04 April 2011
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Peru's stock market and currency were expected to suffer on new data from polls for election showing that left-leaning nationalist leader Ollanta Humala was leading in the run up to the April 10 presidential election. Humala has gained surprising popularity recently, although he is still not seen as winning a second-round run-off against any of the other four candidates.
Stock markets in Peru were down over 3% on Monday, also hurt by lower commodity prices. The Peruvian sol currency also depreciated on the poll news, although the Peruvian Central Bank is expected to keep a lid on things to lessen volatility. Analysts believe that in the end most people in Peru do not want to deviate from current growth which has been robust. That is why they don't expect Humala to win a second-round vote.
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