Exchange rate in Peru: How did the dollar do during the last week | ECONOMY

During the week, the in Peru was impacted by the exposed data on the US economy in relation, for example, to the manufacturing sector. Meanwhile, at the local level, the Central Reserve Bank of Peru (BCR) raised the interest rate to 7%. Next, review the events –local and international– that marked the advances and setbacks of the US currency.

On Monday, the A price of S/3,965 began the week lower due to the caution of investors in the face of a wave of appetite for risk. This happened after the UK government said it would reverse a controversial tax cut that had roiled UK markets and dragged investors down.

MIRA | Quellaveco: The mining project awaits a decision from the Executive on the license to use water

Economic recession concerns continue to dominate market sentiment amid rising geopolitical risk due to Moscow’s annexation of Ukrainian territories”, maintained the firm CI Banco in an analysis note.

Given this scenario, the dollar ended the day on Monday down, with a price of S / 3,960 per dollar.

On Tuesday, the exchange rate was trading at S/3.956 per dollar, a decline of 0.10% compared to Monday’s close. At the end of the session, the US bill ended at S / 3,950.

During that day, the yields of US Treasury bonds stopped their unstoppable rise, which was a brief relief for the equity markets.

On Wednesday, the It was trading at S/3,958 per dollar at the beginning of the session and ended at S/3,970. This represented an advance of 0.51% compared to Tuesday’s close.

During that day, the dollar it was strengthened due to the positive data that came out in the United States: one of them was the manufacturing sector.

The next day, Thursday, the exchange rate was trading at S/3,971 per dollar and closed the session at S/3,981. That day the meeting of the Central Reserve Bank of Peru (BCR) was held, after which a new rise in the interest rate from 6.75% to 7% was announced as a measure to mitigate inflation.

At the end of the week, on Friday, the dollar began the day with a price of S/3,984 per dollar and closed lower, with S/3,950 per dollar.

Globally, in the United States, data on the unemployment rate was known. This was better than the expected figures: 3.7% was anticipated and a rate of 3.5% was obtained.

The fluctuations of the dollar from October 3 to 7:

Day Opening Closing
Monday October 3 S/3,965 S/3,960
Tuesday, October 4 S/3,956 S/3,950
Wednesday, October 5 S/3,958 S/3,970
Thursday October 6 S/3,971 S/3,981
Friday October 3 S/3,984 S/3,950

Allison Pérez, Forex trader at Renta4 SAB, pointed out that, during the week, the price of the dollar had a mixed variation of 0.63%. She also specified that the minimum price was obtained on Tuesday at a level of 3.95 and the maximum price was obtained on Thursday at a level of 3.98.

“The pressure of demand came from non-residents who increasingly take refuge in the US dollar, given the positive data in the US, accompanied by a FED with a more aggressive decision in raising interest rates”said the specialist.

Finally, Pérez indicated that the dollar is expected to continue to strengthen and gain ground next week.

“On Wednesday there will be a meeting of the International Monetary Fund, in which they will give news about world monetary interest, economic development, etc. In addition to this, data on the annual and monthly underlying CPI will be released on Thursday”he concluded.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.