Weekly Information Summary (16/07/2026)

Weekly Information Summary
July 16, 2026

CONTENT

Gross Domestic Product for May 2026 ix
Non-financial public sector operations for June 2026 xi
Interbank interest rate in soles xii
BCRP operations xiii
Short-term yield curves xvi
Public Treasury bonds xvii
International Reserves xvii
International Markets xviii
Copper and zinc prices rise in international markets xviii Food prices rise in international markets xix The dollar depreciates in international markets xx Country risk stood at 105 basis points xxi US Treasuries yield stood at 4.55 percent xxi
Lima Stock Exchange indices rise xxii

GROSS DOMESTIC PRODUCT FOR MAY 2026
The Gross Domestic Product (GDP) grew 1.8 percent year-on-year in May 2026 and 3.2 percent year-to-date. In the month, non-primary GDP expanded 5.0 percent, favored by the boost from trade, as well as growth in the services and construction sectors. Primary GDP contracted 7.8 percent in the month, due to lower activity in the fishing sector and its related manufacturing.

Primary GDP 2/ 22.0 -7.8 -2.0
Agropecuary 6.2 0.1 0.4
Fishing 0.4 -73.1 -30.6
Metallic mining 9.1 2.5 1.2
Hydrocarbons 1.2 3.2 -13.5
Primary manufacturing 3.2 -35.2 -7.3
Non-Primary GDP 78.0 5.0 4.7
Non-primary manufacturing 3/ 8.5 3.5 1.6
Electricity, water and gas 1.9 5.2 3.8
Construction 6.4 4.7 11.4
Trade 10.8 6.9 5.8
Total Services 50.4 4.9 4.3
Global GDP 100.0 1.8 3.2
1/ At 2007 prices.
Jan.-May.
Gross Domestic Product
(Var. % compared to similar period of the mentioned year) Weight 2025 1/ May 2026 3/ Excludes paddy rice. Source: INEI and BCRP. 2/ Includes the forestry sector, non-metallic mining and related services.

Weekly Information Summary: July 16, 2026 x

In May, the agropecuary sector grew 0.1 percent year-on-year. Higher agricultural and livestock production oriented towards both the domestic market (rice and poultry meat) and agroindustry (sugarcane) was recorded; but lower agro-export production (olives, cocoa, avocado, and coffee). In the January-May period, the sector increased 0.4 percent.
Fishing activity decreased 73.1 percent year-on-year in May. This result was mainly due to lower anchovy catches in the north-central region, due to continuous fishing suspensions in the season; and, to a lesser extent, to lower trout availability, which affected continental fishing yields. The fishing sector had a reduction of 30.6 percent year-to-date.
The metallic mining sector in May grew 2.5 percent compared to the fifth month of 2025. Higher production of copper, gold, iron, and tin was recorded. In the first five months of the year, the sector accumulated a growth of 1.2 percent.
In May, the hydrocarbons item grew 3.2 percent year-on-year, due to higher production of natural gas liquids and natural gas. In the January to May period, the sector registered a drop of 13.5 percent.
Primary resource manufacturing in May decreased 35.2 percent year-on-year, mainly due to lower production of fishmeal and fish oil. Primary manufacturing activity accumulated a drop of 7.3 percent by May.
In May, non-primary manufacturing increased 3.5 percent year-on-year due to higher production of inputs, goods oriented to investment, and mass consumption goods. The sector grew 1.6 percent in the first five months of the year.
Production in the electricity, water and gas sector in May increased 5.2 percent compared to the same month in 2025. In the January-May period, the sector grew 3.8 percent.
Construction activity in May grew 4.7 percent compared to the same month of the previous year, mainly associated with greater progress in private works. The sector accumulated a growth of 11.4 percent between January and May of this year.
The trade sector registered a year-on-year increase of 6.9 percent in May. This result responds to the positive performance of its three components (wholesale, retail, and vehicle sales and repair). In the first five months of the year, the sector increased 5.8 percent.
In the fifth month of 2026, the services sector grew 4.9 percent year-on-year, with positive contributions from all its subsectors. The sector accumulated an expansion of 4.3 percent year-to-date by May.

Weekly Information Summary: July 16, 2026 xi
NON-FINANCIAL PUBLIC SECTOR OPERATIONS FOR JUNE 2026 Based on preliminary information, between May and June 2026, the accumulated fiscal deficit over the last twelve months decreased from 1.6 to 1.3 percent of GDP, both due to the increase in current revenues and the reduction of non-financial expenses.

In June 2026, the non-financial public sector would have registered an economic surplus of S/ 98 million, in contrast with the fiscal deficit of S/ 3,279 million in the same month of 2025 due to the growth of current revenues of the general government.

Year-to-date, the non-financial public sector would be accumulating a surplus of S/ 10,074 million, higher than that registered in the same period of 2025 (S/ 995 million).

Current revenues of the general government increased 23.0 percent year-on-year in June 2026, mainly due to higher tax collection (33.1 percent), particularly from income tax, IGV, ISC applied to products other than fuels, Special Mining Tax – IEM, and fines and transfer of detracciones.

Meanwhile, non-tax revenues decreased by 5.4 percent.

The non-financial expenditure of the general government in June 2026 increased 2.4 percent year-on-year, particularly in subnational governments. By expenditure item, this increase corresponded to current expenditure, which expanded by 9.5 percent, mainly due to remuneration and transfers, which was attenuated by the drop in capital expenditure by 14.2 percent, particularly other capital expenditures.

-3.8
-2.6
-1.6
-1.3
Jun.24 Sep.24 Dec.24 Mar.25 Jun.25 Sep.25 Dec.25 Mar.26 Jun.26 Economic result of the non-financial public sector (Accumulated last 12 months - % GDP)

Preliminary.

Weekly Information Summary: July 16, 2026 xii
INTERBANK INTEREST RATE IN SOLES
From July 9 to 15, 2026, the average interbank interest rate in soles was 4.25 percent annually, while in dollars it was 3.75 percent annually.

As of July 15, 2026, the 90-day corporate preferred interest rate – the one charged to lower-risk companies – in soles was 4.70 percent annually, and in dollars, 3.67 percent annually.

2025 2026 Var.% 2025 2026 Var.%

General Government Current Revenues 17,086 21,010 23.0 116,873 135,548 16.0
a. Tax Revenues 12,585 16,751 33.1 91,940 107,186 16.6
i. Income 5,221 7,368 41.1 44,344 52,232 17.8
ii. IGV 7,452 8,790 18.0 46,450 52,079 12.1

Internal 4,309 4,757 10.4 27,453 31,522 14.8
Imports 3,143 4,033 28.3 18,997 20,557 8.2
iii. ISC 896 920 2.7 4,797 5,570 16.1
iv. Refunds (-) 2,837 2,872 1.2 15,718 15,867 0.9
v. Rest 1,854 2,546 37.3 12,067 13,173 9.2
b. Non-tax Revenues 4,500 4,259 -5.4 24,933 28,362 13.8

General Government Non-financial Expenses 19,676 20,150 2.4 107,309 116,628 8.7
a. Current 13,787 15,098 9.5 79,533 89,945 13.1 National Government 8,634 9,454 9.5 49,986 57,584 15.2 Regional Governments 3,513 3,866 10.1 20,520 22,850 11.4 Local Governments 1,641 1,778 8.4 9,027 9,511 5.4 b. Gross Capital Formation 4,840 4,734 -2.2 23,554 23,699 0.6 National Government 1,902 1,625 -14.6 9,878 8,263 -16.4 Regional Governments 1,336 1,299 -2.7 5,882 6,728 14.4 Local Governments 1,602 1,810 13.0 7,794 8,709 11.7
c. Other Capital Expenses 1,049 318 -69.7 4,222 2,983 -29.3
Others 2/ 536 106 1,580 1,573
Primary Result (=1-2+3) -2,055 966 11,144 20,493
Interest 1,225 868 -29.1 10,149 10,419 2.7
Economic Result (=4-5) -3,279 98 995 10,074
1/ Preliminary.
Source: MEF, BN, Sunat, EsSalud, public benefit societies and state-owned companies.
Non-Financial Public Sector Operations 1/
June First Semester
(Millions S/)
2/ Includes capital revenues of the General Government and primary result of state-owned companies.

4.55
4.65 4.70
May.2026 Jun.2026 15 Jul.2026
90-day corporate preferred interest rate in soles (%)

Weekly Information Summary: July 16, 2026 xiii At the same date, the 180-day corporate preferred interest rate for loans in soles was 4.82 percent annually and this rate in dollars was 3.93 percent annually. As of July 15, the 360-day corporate preferred interest rate for loans in soles was 4.95 percent annually and in dollars was 4.22 percent annually.

BCRP OPERATIONS
The monetary operations of the Central Reserve Bank of Peru (BCRP) from July 8 to 14, 2026 were as follows:

Liquidity injection operations:
Securities Repos corresponded to 3-month operations for S/ 600 million (July 10). As of July 14, the balance was S/ 5,200 million, with an average interest rate of 4.60 percent.
Regular currency Repo: As of July 14, the balance of Regular Currency Repos was S/ 200 million, with an average interest rate of 4.58 percent.
Public Treasury Deposit Auctions: As of July 14, the balance was S/ 6,700 million, with an average interest rate of 4.55 percent.

4.72 4.77 4.82
May.2026 Jun.2026 15 Jul.2026
180-day corporate preferred interest rate in soles (%)

4.83 4.90 4.95
May.2026 Jun.2026 15 Jul.2026
360-day corporate preferred interest rate in soles (%)

Weekly Information Summary: July 16, 2026 xiv

Liquidity sterilization operations:
BCRP CDs: The balance as of July 14 was S/ 38,786 million, with an average interest rate of 4.06 percent.
Overnight deposits: As of July 14, the balance of this instrument was S/ 23 million, with an average interest rate of 2.25 percent.
Time deposits: As of July 14, the balance of time deposits was S/ 9,000 million, with an average interest rate of 4.19 percent.

In the exchange operations from July 8 to 14, 2026, the BCRP placed BCRP CDs with dollar payment equivalent to USD 215 million. No currency sale swaps were placed and USD 134 million matured, which includes the early maturity of USD 73 million of this instrument. Additionally, USD 88 million of Currency Purchase Swaps were placed.

i. BCRP CDs with dollar payment: As of July 14, the balance of this instrument was S/ 6,367 million (USD 1,858 million), with an average interest rate of 4.14 percent.
ii. Currency sale swaps: The balance of this instrument as of July 14 was S/ 3,237 million (USD 931 million), with an average interest rate of 2.80 percent.
iii. Currency purchase swaps: The balance of this instrument as of July 14 was S/ 5,920 million (USD 1,744 million), with an average interest rate of 2.60 percent.

As of July 14, 2026, primary issuance decreased by S/ 4,316 million compared to July 7, 2026 and increased by S/ 7,591 million compared to the end of 2025.

In the last week, as of July 14, the BCRP's sterilization operations were the net placement of Time Deposits and Overnight Window (S/ 5,404 million), the net placement of BCRP CDs (S/ 471 million), the maturity of Currency Repo (S/ 200 million) and the maturity of Public Treasury Deposit Auctions (S/ 42 million). These operations were partially compensated by the net placement of Securities Repo (S/ 100 million).

Year-to-date 2026, the BCRP's liquidity injection operations were the net maturity of Time Deposits and Overnight Window (S/ 4,502 million) and the net placement of Public Treasury Deposit Auctions (S/ 1,471 million). These operations were partially compensated by the net maturity of Securities Repo (S/ 8,000 million), the net maturity of Currency Repo (S/ 1,600 million) and the net placement of BCRP CDs (S/ 1,591 million).

In the last 12 months, primary issuance increased by 16.0 percent, mainly as a consequence of a 16.3 percent increase in demand for banknotes and coins.

Weekly Information Summary: July 16, 2026 xv
The interbank selling exchange rate closed at S/ 3.3920 per dollar on July 14, lower by 0.18 percent from the quote on July 7, accumulating a depreciation of the sol of 0.83 percent compared to the end of 2025. Year-to-date 2026, the BCRP has carried out spot purchase operations on the trading desk for USD 3,927 million, has placed BCRP CDs with dollar payment equivalent to USD 4,086 million and has carried out net placements of Currency Purchase Swaps for USD 1,744 million. Additionally, currency sale swaps have been auctioned for USD 4,996 million, with which the balance of these operations has been reduced by USD 4,933 million.

2025
31-Dec 30-Jun 07-Jul 14-Jul
I. NET INTERNATIONAL RESERVES 303,121 325,836 338,980 337,269 34,148 11,433 -714
(Millions USD) 90,214 95,553 99,700 99,489 9,275 3,936 -211

Exchange Position 61,501 68,251 68,370 68,528 7,027 277 158
Financial System Deposits 19,780 19,858 23,852 23,519 3,739 3,661 -333
Public Sector Deposits 6,382 5,029 5,056 5,038 -1,344 9 -18
Others 3/ 2,552 2,415 2,422 2,403 -149 -12 -19
II. NET INTERNAL ASSETS -190,646 -208,918 -214,598 -217,203 -26,557 -8,285 -3,602
Financial System in national currency -19,991 -24,748 -19,192 -25,209 -5,218 -461 -6,017
a. Temporary purchase of securities 13,200 5,080 5,100 5,200 -8,000 120 100 b. Currency repo operations 1,800 400 400 200 -1,600 -200 -200
c. Issued Securities 4/ -24,854 -25,509 -25,974 -26,445 -1,591 -936 -471
d. Public Sector Funds Auction 5,229 6,842 6,742 6,700 1,471 -142 -42 e. Other national currency deposits -15,366 -11,561 -5,460 -10,864 4,502 697 -5,404
Public Sector (net) in national currency 5/ -33,673 -48,950 -47,306 -46,403 -12,730 2,547 903
Financial System in foreign currency -67,027 -67,896 -81,286 -79,921 -12,894 -12,025 1,126
(Millions USD) -19,780 -19,858 -23,852 -23,519 -3,739 -3,661 333
Public Sector (net) in foreign currency -20,577 -16,301 -16,347 -16,241 4,336 60 62
(Millions USD) -6,124 -4,780 -4,808 -4,790 1,334 -10 18
Other Net Accounts -49,378 -51,023 -50,467 -49,429 -51 1,594 324
III. PRIMARY EMISSION (I+II) 112,475 116,918 124,382 120,066 7,591 3,148 -4,316
(Var. % 12 months) 14.5% 18.4% 16.9% 16.0%
2/. As of July 14, 2026.
3/ Includes SDR allocations, Public Treasury Global Bonds and Repo Operations to provide Foreign Currency. 5/ Includes BCRP securities and bonds issued by the Public Treasury, which the BCRP acquires in the secondary market in accordance with Article 61. July Monetary Accounts of the Central Reserve Bank of Peru (Millions S/) Balances 2026 4/ Includes BCRP CDs with dollar payment. Flows 1/ 2/ 2026 Week 1/ Isolates valuation effects due to exchange rate fluctuations. The variation in the balance in soles may differ from the flows due to this valuation effect.

Weekly Information Summary: July 16, 2026 xvi
SHORT-TERM YIELD CURVES
On July 15, 2026, the BCRP CD yield curve registered, compared to that of July 8, higher rates for terms of 3, 12 and 18 months, while these were similar for terms of 6 and 9 months.

70
80
90
100
110
120
130
140
150
160
170
180
02-Jan-24 20-Aug-24 08-Apr-25 25-Nov-25 14-Jul-26 Nominal exchange rate indices (December 2018 = 100) Peru Chile Colombia Mexico Var. % compared to December 2025 Peru 0.83 Chile 2.96 Colombia -13.62 Mexico -3.24

4.15
4.14
4.20
4.17
4.15 4.15
4.17
4.23
3 6 9 12 18
BCRP CD yield curve
(%)
15 Jul 2026
Months
8 Jul 2026

Weekly Information Summary: July 16, 2026 xvii PUBLIC TREASURY BONDS For terms from 2 years, markets take as reference the yields of Public Treasury bonds. On July 15, 2026, the interest rates of sovereign bonds, compared to those of July 8, were lower for all terms.

INTERNATIONAL RESERVES
International reserves consist of diversified investments in liquid international assets and contribute to the economic and financial stability of the country. As of July 14, 2026, Net International Reserves totaled USD 99,489 million and its current level is equivalent to 28 percent of GDP. The Exchange Position as of July 14, 2026 reached the value of USD 68,528 million, higher by USD 7,027 million than that registered at the end of 2025.

3.60
3.85
6.35 6.58 6.57
3.50 3.76
6.21
6.47 6.46
2 5 10 20 30
Public Treasury bond yield curve
(%)
8 Jul 2026
15 Jul 2026
Years

71,883 71,033
78,987 81,016
85,263 85,148
90,214
95,072 97,295
94,716 97,020 98,436
95,553
99,489
Dec.22 Dec.23 Dec.24 Mar.25 Jun.25 Sep.25 Dec.25 Jan.26 Feb.26 Mar.26 Apr.26 May.26 Jun.26 14 Jul.26 Net International Reserves (Millions USD)

Weekly Information Summary: July 16, 2026 xviii INTERNATIONAL MARKETS Copper and zinc prices rise in international markets Between July 8 and 15, the price of copper rose 3.4 percent to USD/lb. 6.14 due to the drop in inventories at the London Metal Exchange and prospects of a tighter concentrate market. From July 8 to 15, the price of zinc increased 0.7 percent to USD/lb. 1.61 also due to the drop in inventories at the London Metal Exchange and due to the depreciation of the dollar against its counterparts.

52,040 51,571
53,555
55,058 56,049 57,229
61,501
66,877
68,567
67,082 66,883 67,088 68,251 68,528
Dec.22 Dec.23 Dec.24 Mar.25 Jun.25 Sep.25 Dec.25 Jan.26 Feb.26 Mar.26 Apr.26 May.26 Jun.26 14 Jul.26 Exchange Position (Millions USD)

320
360
400
440
480
520
560
600
640
680
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 Copper Quote (ctv. USD/lb.)
614
15 Jul.2026 8 Jul.2026 30 Jun.2026 31 Dec.2025 USD 6.14 / lb. 3.4 1.5 8.3 Variation %

90
100
110
120
130
140
150
160
170
180
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 Zinc Quote (ctv. USD/lb.)
161
15 Jul.2026 8 Jul.2026 30 Jun.2026 31 Dec.2025 USD 1.61 / lb. 0.7 -0.3 16.0 Variation %

Weekly Information Summary: July 16, 2026 xix
From July 8 to 15, the price of gold decreased 0.4 percent to USD/oz.tr. 4,060.6, due to expectations of higher interest rates for a longer period due to the rise in oil prices. Between July 8 and 15, the WTI oil price increased 8.3 percent to USD/bl. 79.6 due to higher geopolitical tensions associated with concern over supply disruptions in the Strait of Hormuz due to the escalation of the conflict in the Middle East.

Food prices rise in international markets
Between July 8 and 15, the price of soybean oil increased 4.8 percent to USD/ton. 1,613.5 due to the rise in oil prices.

1,500
1,900
2,300
2,700
3,100
3,500
3,900
4,300
4,700
5,100
5,500
5,900
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 Gold Quote (USD/oz.tr.)
4,061
15 Jul.2026 8 Jul.2026 30 Jun.2026 31 Dec.2025 USD 4,060.6 / oz tr. -0.4 1.3 -6.0 Variation %

40
50
60
70
80
90
100
110
120
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 Oil Quote (USD/bl.)
80
15 Jul.2026 8 Jul.2026 30 Jun.2026 31 Dec.2025 USD 79.6 / barrel. 8.3 14.5 38.6 Variation %

750
900
1,050
1,200
1,350
1,500
1,650
1,800
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 Soybean Oil Quote (USD/ton.)
1,614
Variation %
15 Jul.2026 8 Jul.2026 30 Jun.2026 31 Dec.2025 USD 1,613.5 / ton. 4.8 4.8 53.7

Weekly Information Summary: July 16, 2026 xx
From July 8 to 15, the price of wheat increased 10.1 percent to USD/ton. 299.5 due to fears of lower supply after attacks interrupted maritime transport in the Sea of Azov, a key route that handles approximately a quarter of Russia's grain exports. From July 8 to 15, the price of corn increased 3.0 percent to USD/ton. 168.3 due to fears associated with the forecast of warm and mostly dry weather for the western half of the US Midwest agricultural belt.

The dollar depreciates in international markets In the same period, the dollar index decreased 0.5 percent after it was known that the decrease in consumer and producer inflation in the USA during June was greater than expected. The depreciation stands out against the euro (0.4 percent) and against the Swiss franc (0.3 percent).

160
180
200
220
240
260
280
300
320
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 Wheat Quote (USD/ton.)
300
15 Jul.2026 8 Jul.2026 30 Jun.2026 31 Dec.2025 USD 299.5 / ton. 10.1 13.2 34.8 Variation %

120
140
160
180
200
220
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 Corn Quote (USD/ton.)
168
V
15 Jul.2026 8 Jul.2026 30 Jun.2026 31 Dec.2025 USD 168.3 / ton. 3.0 8.4 4.0 Variation %

90
95
100
105
110
115
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 DXY Index 1/ (March 1973=100) 101 1/ Index of the value of the US dollar in relation to a basket of major currencies (euro, yen, pound, Canadian dollar, Swiss franc and Swedish krona). 15 Jul.2026 8 Jul.2026 30 Jun.2026 31 Dec.2025
100.5 -0.5 -0.7 2.2
Variation %

Weekly Information Summary: July 16, 2026 xxi
Country risk stood at 105 basis points
From July 8 to 15, country risk, measured by the EMBIG Peru spread and the EMBIG Latin America spread, decreased by 3 bps, in both cases. The yield of Peruvian sovereign bonds at 10 years decreased by 13 bps between July 8 and 15 and remains as one of the lowest in the region.

US Treasuries yield stood at 4.55 percent
From July 8 to 15, the yield of the US Treasury bond at ten years dropped 3 bps to 4.55 percent. US inflation data, lower than expected, reduced the expectation of a restrictive monetary policy by the Fed.

60
140
220
300
380
460
540
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 Country Risk Indicators (bps.)
EMBIG Latam
EMBIG Peru 267
105
15 Jul.2026 8 Jul.2026 30 Jun.2026 31 Dec.2025 EMBIG Peru (bps) 105 -3 -4 -30 EMBIG Latam (bps) 267 -3 -1 -63 Variation in bps.

3.0
4.5
6.0
7.5
9.0
10.5
12.0
13.5
15.0
16.5
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15-Jul-26 10-year sovereign bond yield (%) Peru Chile Colombia Mexico 11.7 9.1 5.6 5.4 8 Jul.2026 1 Jul.2026 30 Jun.2026 31 Dec.2025 Peru 5.6 -13 -13 18 Chile 5.4 -6 -6 7 Colombia 11.7 -12 -7 -94 Mexico 9.1 -2 5 -2 Variation in bps.

3.4
3.7
4.0
4.3
4.6
4.9
5.2
03-Jan-24 21-Aug-24 09-Apr-25 26-Nov-25 15