December 22, 2017 / 3:23 PM / in a year

Peru's currency and stocks surge after president thwarts ouster

LIMA, Dec 22 (Reuters) - Peru’s sol currency and stock index surged on Friday after Peru’s President Pedro Pablo Kuczynski unexpectedly thwarted a bid in Congress to force him from office over his past business ties with a company at the center of a graft scandal.

The sol appreciated 0.9 percent to trade 3.237/3.239 against the dollar in morning trade, having recovered nearly all of its losses after Kuczynski’s links to Brazilian builder Odebrecht were revealed last week.

Lima’s select stock index rose 0.9 percent, led by mining companies Minsur and Volcan and a local construction group Grana y Montero , whose shares surged more than 5 percent. (Reporting by Teresa Cespedes, Writing By Mitra Taj Editing by Chizu Nomiyama)

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