The price of the dollar in Peru closed stable on Wednesday, driven by the inflation data for April in the United States which, although it was slightly higher than expected, showed signs of having slowed its advance as it was much lower than the previous month, which could moderate the pace of interest rate hikes.
The exchange rate ended at S/ 3,790 per dollara slight decrease of 0.02% compared to Tuesday’s close at S/ 3,791, 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 5.04% compared to the last price of 2021, at S / 3,991.
“During the day there was downward pressure due to supply from local corporations, mitigated to a small extent by demand from the offshore market. US$ 260 million were negotiated in the market at an average price of S/ 3.7806″, indicated Gianina Villavicencio, Manager of Foreign Exchange Brokerage at Renta4 SAB Peru.
“Today there was a currency Repo maturity for S/ 200 million, foreign exchange swaps for sale were placed for S/ 200 million at 1 year with an average rate of 2.14%”, he added.
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On the other hand, in the parallel market or the main exchange houses, the dollar it is bought at S/ 3,770 and it is sold at S/ 3,810, according to the portal quantumestaeldolar.pe.
At the regional level, most currencies and stock markets in Latin America rose on Wednesday, boosted by the April inflation figure in the United States, which, although slightly above expectations, showed signs of having slowed its progress. being much lower than the previous month, which could moderate the pace of interest rate hikes.
According to the Archyde.com agency, the increase in US consumer prices slowed sharply in April, as gasoline prices fell from record highs, suggesting that inflation may have peaked, although it is possible that remain high for a while and lead to the Federal Reserve maintaining its path of monetary tightening.
The consumer price index (CPI) rose 0.3% in April, the smallest increase since last August, the Labor Department said on Wednesday. The figure contrasted sharply with the 1.2% monthly increase in the CPI in March, which was the biggest advance since September 2005.
But the CPI slowdown is likely to be temporary. Gasoline prices, which accounted for most of the pullback in the monthly rate of inflation, are rising again and hovered around $4,161 a gallon earlier in the week, after dipping below $4 in April, according to the Energy Information Administration (EIA).
Expectations of less aggressive interest rate hikes in the United States caused a global drop in the dollarwhose index fell by around 0.4%.