2024-01-23 02:14:00
Although last week an upward movement was observed in the price of the dollar, surpassing the barrier of 900 pesos and fluctuating close to 20 pesos in the same daythis Monday the US currency started lower.
Experts describe this event as a financial rate increase, speculative and short termmainly motivated by differences in the performance of the dollar and the Chilean currency.
“The yield on money in Chile is declining sharply, very fastand as a counterpart, what is also happening is that in the United States Treasury bond yields are very highfor several reasons,” explained the academic from the University of Tarapacá, Fernando Cabrales.
Among these reasons is that “they (the US) also had an inflationary process in the making, but there is a significant fiscal deficit and – given the context of uncertainty throughout the world – US Treasury bonds are highly valued, and in order to capture these valuations you have to buy bonds in dollars. Therefore, the demand for dollars increases greatly in Chile.”
LESS SALE OF DOLLARS
On the other hand, the commercial operator and customer experience of e-Panda Financiero, Jose Antonio Contreraspointed out that, regarding the demand for travel, It is not the dollar but the real that is the preferred currency at this moment.
He also detailed the difference between how the business customer versus the common customer acted in the face of this fluctuation.
“The company sale, since it is an informed sale, generally approaches the purchase when it is really declining or the trend indicates the decline. However, The street customer tends to take advantage of this opportunity only when it has already passed“, analyzed the expert.
“This happened last week, but we see today that there is a lot of demand from clients who They come because of the data that occurred the previous week“he added.
Likewise, he assured that “unlike other years, what we have seen the most has been trips mainly to destinations such as Brazil, Colombia and Mexico. Not so many dollar sales for clients who travel in terms of tourism“.
CHANGES IN THE PRICE OF THE DOLLAR
Meanwhile, experts warned about the effect that the movement can have on the price of the US currencygiven the open and importing nature of the national economy.
Given this scenario, Alvaro Acostadirector of Corporate Finance at Open BBK, assured that “at the consumer or general population level, we see how Almost 70% of the products consumed in our country are directly impacted by the price of the dollar“.
“And without exaggeration, the remaining 30% impacts indirectlyso an increase in the price, if it is significant, clearly has an important impact by increasing the cost of living of the population,” he added.
“Chile is an economy that has quite sophisticated financial instruments, and that means that when the dollar fluctuates it does not necessarily translate into a change in the prices of the goods we consume. In that sense, it rather has an effect on sectors such as tourism,” he pointed out, for his part, Juan Nagelacademic at the University of Los Andes.
In addition to interest rates in Chile and the United States, they also affect the cooling of the Chinese economy, which influences the low demand for Chilean copper; and to a lesser extent, the current conflicts between Russia and Ukraine, as well as the Gaza Strip.
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