The price of the dollar in Peru closed lower on Monday, amid greater risk aversion that led investors to seek refuge in the US currency before the Federal Reserve meeting this week, in which it is expected a rise in interest rates in the United States.
The exchange rate ended at S/ 3,836 per dollara decrease of 0.07% compared to the close of Friday at S/ 3,839, according to data from the Central Reserve Bank of Peru (BCR).
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So far this year, the greenback accumulates a decline of 3.88% compared to the last price of 2021, at S / 3,991.
“Today’s session began with the opening of the market at S/ 3.84, offshore went out to buy dollars and AFP went out to sell dollars, there was a maximum of S/ 3.8530, on the other hand, BCR renewed exchange swap for sale for S/ 200 million at 3 months. US$ 219 million were traded in the market at an average price of S/ 3.8457”, said Alexander Javier, foreign exchange trader at Renta4 SAB.
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On the other hand, in the parallel market or the main exchange houses, the dollar it is bought at S/ 3,810 and it is sold at S/ 3,840, according to the portal cuantoestaeldolar.pe.
At a regional level, the currencies of Latin America depreciated on Monday, due to a greater aversion to risk that led investors to seek refuge in the US currency before the meeting of the Federal Reserve this week, in which a rise in interest rates in the United States.
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According to the Archyde.com agency, to this was added a drop of more than 2% in crude oil prices, due to the fact that the concern about the weak economic growth of China – the world’s largest oil importer – overshadowed the fear that the supply would be seen limited by a possible European Union ban on the entry of Russian barrels.
“A more “hawkish” stance on the part of the Federal Reserve favors the dominance of the dollar at a global level and therefore Latin American currencies depreciate”, said Andrés Cuartas, manager of international fixed income at Renta4Global.
“Similarly, agents are cautious about possible announcements of monetary policy meetings in Brazil and Chile, for which an increase of 100 basis points is expected,” he added.