Today, Thursday, February 17, the dollar closed the exchange session maintaining its downward trend for the second consecutive day.
The exchange rate in Peru fell from S/ 3.75 to S/ 3,727 at the interbank level, according to the Central Reserve Bank (BCR).
The price of the currency fell more than 0.50% in the peruvian marketthereby achieving its lowest price in nearly nine months.
The greenback it had not presented such a low price since mid-May 2021.
With this result, the BCR indicates that to date, so far in 2022, the dollar price It has fallen 6.61% when compared to the closing price of last year.
Why did the dollar fall?
The operators indicate that the dollar price in Peru it fell driven by demand from AFPs and corporate companies.
“During the day the flow of the offer came from AFPs and corporates for payment of taxes, while the demand came to a small extent from non-residents; US$ 338 million were traded in the market at an average price of S/ 3.7453″, Gianina Villavicencio, manager of Foreign Exchange Brokerage for Rent 4 SAB Peru, told the newspaper Gestión.
For his part, Matias Maciel, Cofounder of Rextie, points out that the lower price of the dollar recorded in recent weeks is related to internal and external factors
“If we talk regarding internal reasons, it is becoming increasingly clear, for those who still had some doubts regarding the possibility of structural changes in the economy of Peru, that although various ministerial changes have taken place (including in the Ministry of Economy and Finance), the possibility of structural reforms at the economic or financial level in Peru is remote. At least, it follows that it would not be the intention of the current government,” he commented.
Regarding the external reasons, it maintains that the implementation of restrictive monetary measures in United States is being slower than expected.
“Although it is a reality that interest rates they are going to rise, it is something that is happening in a longer period of time than initially thought, so this works in favor of economies such as Peru, where yields in soles are increasing at a faster rate, making it more attractive positions in local currency,” he added.
Maciel assures that there is no reason for the exchange rate to rise to S/4.00 in the short term, which would be removing the possibility of financial turmoil.
Dollar price for buying and selling
The platform, how much is the dollar.pe, indicates that in the parallel market the dollar the dollar is bought at S/ 3.70 and sold at S/ 3.75 on average.
While in digital exchange houses the green ticket it is bought at an approximate S/ 3.72 and it is sold at regarding S/ 3.75.
