The dollar price The US currency in Peru was trading lower in the informal or parallel market today, Wednesday, May 11, 2022. The exchange rate fell to S/ 3,770 for purchase and S/ 3,815 for sale, according to exchange houses in Lima.
On the other hand, in the interbank market, the greenback closed at S/ 3,791, according to data provided by the Central Reserve Bank of Peru (BCR).
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The monetary entity detailed that the dollar has a decline of 5.01% so far in 2022, compared to the result recorded at the end of last year (S / 3,991).
The foreign currency registered an appreciation of 10.28% at the end of 2021 due to the impact of political uncertainty and doubts about the economic outlook due to the new variants of the coronavirus.
At the regional level, most of the beaten Latin American currencies took a breather on Tuesday and closed with gains, recovering part of the heavy losses of the day before, while the stock markets had disparate closings.
According to the Archyde.com agency, the instability of the world economy kept investor confidence fragile and the dollar continued to be seen as a refuge.
The dollar rose on Tuesday, after fluctuating between modest gains and losses near a two-decade high, ahead of a key inflation reading that could provide clues about the direction of the Federal Reserve’s monetary policy.
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The market will closely watch the April consumer price index reading on Wednesday for any signs that inflation may be starting to cool, with expectations for an 8.1% annual rise compared to 8, March 5th.
“It’s the lull before the inflation data … so this allows some breathing space for risk assets,” said Joe Manimbo, senior market analyst at Western Union Business Solutions.
“The war between Russia and Ukraine, together with the quarantines in China, have greatly damaged supply chains, generating inflation, driving the dollar higher,” Luis Alberto Reyes, an analyst at Mercados G, said in a statement.