The price of the dollar in Peru closed with a strong increase as the greater global risk aversion due to the winds of recession pushed investors to migrate towards the favorite safe-haven asset, the dollar.
The exchange rate ended at S/ 3,941 per dollar, an advance of 0.71% compared to Friday’s close of S/ 3,913, according to data from the BCR.
So far this year, the greenback accumulates a decline of 1.25% compared to the last price of 2021 at S / 3,991.
Today US$ 214 million were traded on the market at an average price of S/ 3.9396, reported Gianina VillavicencioManager of Foreign Exchange Brokerage at Renta4 SAB Peru.
“The day began with the opening of the market at S/ 3.9250. The demand came from the offshore market. The BCR intervened by placing S/ 824 million in foreign exchange swaps for nine months with an average rate of 3.85%”he pointed.
On the other hand, in the parallel market (Ocoña) or the main exchange houses, the dollar is bought at S/ 3,910 and it is sold at S / 3,950according to the portal cuantoestaeldolar.pe.
At a regional level, the currency and stock markets of Latin America exhibited significant devaluations in the early hours of Monday, due to the fact that the greater global risk aversion due to the winds of recession pushed investors to migrate towards the favorite safe-haven asset, the dollar.
According to the Archyde.com agency, the agents’ attention will be focused on the signals that result from upcoming interventions by Federal Reserve officials regarding what comes after the 75 basis point increase in the agency’s interest rates last week.
The Fed’s decision was accompanied by its peers in the United Kingdom, Sweden, Switzerland, Norway and Taiwan, which also increased the benchmark cost of money.
“These events generated greater fear of a global recession, which triggers an outflow of risky assets towards liquidity, sharp falls in raw materials, especially oil, and a rise in the dollar to levels not seen since 2002.″, indicated a Bancolombia report.
“It is evident that the Central Bank (US) is willing to destroy some demand in order to lower inflation to target levels.or,” he added.
Markets will also pay attention during the week to US consumer confidence data for September on Tuesday; as well as the inflation observed in September of the euro zone and its unemployment rate for August, on Friday.