Peru Election 2026: Tight Race Between Keiko Fujimori and Roberto Sanchez Boosts Markets

Peru’s presidential election remains one of the closest contests in the country’s recent history, with conservative candidate Keiko Fujimori and left-wing contender Roberto Sanchez locked in a razor-thin race as vote counting continues.

According to Peru’s electoral authority, ONPE, Sanchez currently holds a narrow lead with 50.12% of the vote compared to Fujimori’s 49.88%. With 96.27% of ballots counted, the difference between the two candidates stands at just over 40,000 votes, highlighting the uncertainty surrounding the final outcome of the Peru election.

Earlier in the day, Fujimori had significantly reduced the gap thanks to strong support from overseas ballots, coming within approximately 20,000 votes of Sanchez. However, Sanchez later regained momentum as additional votes were processed.

Financial markets reacted positively to the election developments. Peru’s main stock index closed 3.7% higher on Tuesday after gaining more than 7% during trading. U.S.-listed Peruvian companies also posted notable gains, with mining firm Buenaventura rising 2.5% and Intercorp Financial Services surging 11.4%. The iShares MSCI Peru and Global Exposure ETF advanced 5.5%, while the Peruvian sol strengthened 1.22% against the U.S. dollar, ending the session at 3.39 per dollar.

The market rebound follows a sharp selloff triggered by concerns over Sanchez’s economic proposals. The leftist candidate has advocated constitutional reforms, windfall taxes, a wealth tax, and changes to mining concessions. These policies have attracted support from rural voters but raised concerns among investors due to Peru’s heavy reliance on the mining sector.

Fujimori, meanwhile, has emphasized law-and-order policies and has drawn attention to the political legacy of her father, former President Alberto Fujimori, who was imprisoned for human rights violations linked to incidents that occurred during his administration.

Election analysts note that remaining ballots from rural regions may favor Sanchez, while votes from abroad and disputed ballots are expected to benefit Fujimori. Approximately 1.67% of ballots remain under review, many from Lima, a region where Fujimori enjoys strong support.

Both candidates have urged supporters to remain patient and respect the electoral process. Officials have indicated that the final certified results may not be completed until July. As Peru awaits the official outcome, the nation remains divided between two sharply different visions for its political and economic future.