The price of the dollar in Peru closed lower today, amid a wave of risk aversion due to the increasingly adverse global economic outlook, which led investors to seek refuge in the dollar.
The exchange rate ended at S/ 3,742 per dollar, a decrease of 0.58% compared to Friday’s close of S/ 3,764, 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 6.23% compared to the last price of 2021 at S / 3,991.
“At the beginning of the day there was upward pressure due to offshore demand, which caused the dollar to reach a maximum price of S/ 3,801, while the offer came from corporations that took advantage of the rise in the dollar to sell said currency. US$ 261 million were traded in the market at an average price of S/ 3.7837. Today there was no intervention of the BCR”indicated Allison Pérez, foreign exchange trader for Renta4 SAB.
On the other hand, in the parallel market or the main exchange houses, the dollar is bought at S/ 3,730 and sold at S/ 3,770, according to the portal cuantoestaeldolar.pe.
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At the regional level, the currency and stock markets of Latin America collapsed on Monday, amid a wave of risk aversion due to the increasingly adverse global economic outlook, which led investors to seek refuge in the dollar.
According to the Archyde.com agency, agents were digesting surprisingly high inflation figures in the United States published on Friday, which would put central banks at a crossroads, forcing them to raise their interest rates, impacting the economy.
“It is now possible that the US central bank will not only raise rates by 50 basis points in June and July, but even go ahead and skip the previously foreshadowed pause for September”said Ricardo Evangelista, senior analyst at ActivTrades.
Even some do not rule out an interest rate hike of 75 basis points this Wednesday at the Fed meeting. “In this context, the dollar could continue to strengthen”Evangelist opined.