Peru Dollar Exchange Rate Rises after US Federal Reserve Meeting: Latest Updates and Analysis

2023-07-06 20:10:39

The dollar in Peru closed higher this Thursday, July 6, following the minutes of the last monetary policy meeting of the United States Federal Reserve were released, which did not change expectations of possible new increases in interest rates in the United States

The exchange rate ended the day at S/ 3,648 per dollar, an advance compared to Wednesday’s close of S/ 3,634, according to data from the Central Reserve Bank (BCR).

So far this year, the greenback has accumulated a decline of 4.18% compared to the last price of 2022, at S/ 3,807.

ALSO READ: Dollar chains fifth month down in June, will it reverse trend next month?

Parallel market

In the parallel market or the main exchange houses, the dollar is bought at S/ 3.63 and sold at S/ 3.65, according to data from the portal .

Likewise, the average price in the banking market stands at S/ 3,627 for purchase and S/ 3,633 for sale.

dollar globally

Latin American currency and stock markets posted significant losses on Thursday, pressured by the possibility of further interest rate hikes in the United States, following a strong report on job creation in the private sector of the world’s largest economy.

US interest rate futures were pricing in a higher probability of another Fed rate hike in November on Thursday, following private payrolls rose last month, suggesting a still strong labor market. and adjusted.

For the Fed’s policy meeting next month, the odds of a 25 basis point hike rose to 95%, compared with 90.5% chances in Wednesday’s estimates.

The Fed has raised its key interest rate by 500 basis points since March 2022, when it embarked on its fastest monetary-policy tightening campaign in more than 40 years.

ALSO READ: Banking paid triple in interest to its savers than a year ago

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