The euro has established itself as one of the foreign exchange more used globally, mainly by the economic magnitude of the euro zone and its role in International trade. It constitutes the second currency most important reserve, representing approximately 20.5% of international reserves, and is the currency chosen in about 38% of world cross -border payments. This relevance is due to the economic stability of the European Union, which, with a population of more than 340 million people and an internal gross product (GDP) of some USD 18.59 billion in 2023, constitutes one of the largest economies in the world.
In addition, the existence of a currency Unique has eliminated the risks associated with exchange fluctuations between member countries, facilitating trade and investment within the region. The European Central Bank (ECB) plays a crucial role in monetary policy management, guaranteeing price stability and currency confidence. Currently, in Peru, the euro It has been revalued relatively recently and is above the barrier of S/ 4.
In an interview with Infobae PeruDr. Benoit Mugenot, director of the Economics Races of the San Ignacio de Loyola University, explained that the European currency has Increased its price Due to the recent Donald Trump’s policies.
“The price of the euro, like that of most of the other currencies, such as Japanese yen, sterling and the Swiss Franco, has increased against the dollar in recent weeks. The context of commercial war launched by President Donald Trump has generated the anticipation of an economic reaction in the United States, causing a fall, at its lowest level since October 2024, of the yields of the yield American 10 years, ”he said.
In this way, the euro price in Peru It is directly related to the cost of the dollar. “The exchange rate of the US dollar allows to indirectly calculate the value of the euro against the Peruvian sun. This means that, if the dollar is strengthened, for example, by an increase in interest rates, the price of the euro in soles will also be affected. On the other hand, the BCRP intervenes directly in the currency market to stabilize the exchange rate of the sun against the dollar, also affecting the exchange rate of the euro,” Mugenot.
This vision is also shared by Claudia Sicoli, director of the UPC International Economics and Business career, who, in conversation with Infobae Peruhighlight how euro It is a great alternative to dollar.
“The price of the euro has registered an increasing trend, in relation to the Sun, since the month of March of this year, which may be explained by the continuous oscillation of the price of the dollar with decreasing tendency, which has been observed since the beginning of this 2025. This behavior of the euro could be associated in an increase in local demand for this currency, as an alternative mechanism of refuge, given the uncertainty that surrounds the situation of the dollar that is strongly related to The economic measures implemented by the Trump administration that are aimed at restricting international trade, but so far they are suspended, ”he said.
Las Peruvian exports to the European Union They reached a value of USD 8,274 million in 2024, which represents a market of great importance for Peru, with an increase of 19.6% compared to the previous year. The most prominent products in this growth include those of the agricultural sector such as cocoa, avocado and blueberries, as well as products in the energy sector, such as natural gas. Despite this increase, the main destinations of Peruvian exports remain China, with a 34%participation, and the United States, with 13%.
According to the monthly report of foreign trade in Mincetur, Imports More relevant from the European Union towards Peru in 2024 were the pharmaceutical products, vehicles, beauty and paper and cardboard preparations, which added USD 4,715 million, representing 9% of the total imports. As for Peruvian exports, the EU acquired 11% of the commercialized, especially minerals such as copper, zinc and tin, and agricultural products such as avocado, blueberry, coffee, cocoa, grapes and mango. Being the third commercial partner of Peru, the European Union is close to the United States, which bought 12.6% of the total exported, while China remains the main partner with 34%, exceeding the USD 25,000 million in 2024.
“In this context, a high price of the euro can contribute to increasing the competitiveness of Peruvian exports in the European market, increasing, In turn, the cost of imports of European goods in the Peruvian market, such as engines, vehicles, machinery or chemicals, “says Dr. Benoit Mougenot on the impact of the price of the euro in Peru.
“Having a positive trade balance, exporters benefit from the increase in euro pricebut negatively impacts national importers, ”says Claudia Sicoli.
In front of this euro revaluationone could be tempted to the possibility of having a reservation of this currency. The two experts consulted by Infobae Peru They agree that the currency is a good option to diversify savings.
“He euro It is a strong and stable currency, backed by the eurozone economy. Generally, it has controlled inflation rates, which can help preserve the value of long -term savings, offering greater security against the volatility of other currencies. In addition, saving in euros can be a way of diversifying savings and reducing the risk associated with the dependence of a single currency, such as the US dollar, in times of uncertainty. Finally, when planning trips, studies or investment in Europe, having savings in euros can facilitate these transactions and avoid costs of currency change, ”says Mugenot.
“Savings in a foreign currency is a practice related to a dynamic that comes from the Peruvian economic history of the 80s, in which there was a need to cover itself with a possible devaluation of the national currency. dollars, since its use is more generalized in the Peruvian public and in the local banking system, ”says Sicoli.
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