Check the current price of the dollar and its daily rate. We provide you with accurate information on the value of the US currency in the parallel market as well as in the major banks throughout Peru.
The price of the dollar opened higher at 3.7570, based on preliminary data from Bloomberg.
In Peru, the dollar price is primarily influenced by the Central Reserve Bank (BCR). As reported on the portal howmuchisthedollar.pe, the value of the US currency is currently at S/3,730 for purchase and S/3,750 for sale. Below, you’ll find the dollar prices at the main banks in the country, as well as at various online and Jr. Ocoña exchange houses.
This is how the dollar exchange rate is quoted in Peruvian banks
BCP:
- Purchase: S/3,694
- Sale: S/3,781
BBVA:
- Purchase: S/3,644
- Sale: S/3,826
National Bank:
- Purchase: S/3,710
- Sale: S/3,780
Scotiabank:
- Purchase: S/3,648
- Sale: S/3,827
Today’s dollar price, Monday, August 5, in Peru: minute-by-minute exchange rate
What is the Ocoña dollar?
The Ocoña dollar, also known as the informal exchange rate, refers to the “street dollar” that is bought and sold in the parallel market or at exchange houses.
This name derives from Jirón Ocoña, located in the center of Lima, where the first exchange houses were established in the 1980s.
Photo: Karla Cruz / URPI-LR
What was the opening exchange rate according to Bloomberg?
The price of the dollar opened trading higher at 3.7570, according to preliminary data from Bloomberg.
Why are dollars called ‘coco’?
The term ‘coco’ is used in our country to refer to the US dollar. For instance, at the Banco de Crédito del Perú (BCP), there is a product called ‘Cocos y Lucas’ for exchanging dollars and soles. This name comes from the fact that the one-dollar bill features George Washington, whose Spanish name is Jorge, and these individuals are called ‘Coco’.
What is the exchange rate provided by Sunat for?
The exchange rate published by Sunat serves as a reference for tax purposes, according to financial expert Jorge Carrillo Acosta, in a previous discussion with La República. “It helps individuals know what exchange rate is recorded in their accounts when buying, selling, or declaring taxes,” he added.
How to identify counterfeit dollars?
Check whether your bills are genuine or counterfeit in the following clip.
Video: Unite
What is the exchange rate?
The exchange rate is the price of the dollar in any country, divided into buying and selling rates, according to Jorge Carrillo Acosta, a finance expert from Pacífico Business School, in a prior conversation with La República.
What factors influence the dollar’s behavior in Peru?
Two factors are significant. The first is Peru’s relationship with the United States, where the dollar serves as a benchmark. The second factor is expectations, which encapsulate “a sense of risk.”
According to UPC Finance professor Jorge Luis Ojeda, “when interest rates here are higher than in the United States, the exchange rate tends to fall because it becomes more appealing to invest in soles, attracting foreign capital; however, when the situation is reversed, the dollar rises.” Additionally, “if there is any perceived risk in Peru, people tend to buy dollars, which obviously drives up the dollar’s price.”
Check the current price of dollar and its daily price. We share with you precise information about the price of the US currency in the parallel market and in the main banks in Peru.
Current Dollar Exchange Rate in Peru
In Peru, the price of the dollar is primarily influenced by the Central Reserve Bank (BCR). According to the portal howmuchisthedollar.pe, the value of the US dollar is quoted at:
| Transaction Type | Price (S/) |
|---|---|
| Purchase | 3,730 |
| Sale | 3,750 |
This is how the dollar exchange rate is quoted in Peruvian banks
Here’s a breakdown of the dollar exchange rates from major Peruvian banks:
| Bank | Purchase Price (S/) | Sale Price (S/) |
|---|---|---|
| BCP | 3,694 | 3,781 |
| BBVA | 3,644 | 3,826 |
| National Bank | 3,710 | 3,780 |
| Scotiabank | 3,648 | 3,827 |
Price of the dollar today, Monday, August 5, in Peru: minute by minute exchange rate
The Ocoña dollar, also known as the informal exchange rate, pertains to the “street dollar” that is traded in the parallel market or in exchange houses. It is named after Jirón Ocoña, a street in downtown Lima, where the first exchange houses emerged in the 1980s.
As of today, the price of the dollar opened trading higher at 3.7570, according to preliminary data from Bloomberg.
Why Are Dollars Called ‘Coco’?
The term ‘coco’ is used in Peru to refer to the US dollar. For example, at the Banco de Crédito del Perú (BCP), there’s a product called ‘Cocos y Lucas’ for exchanging dollars and soles. The name arises from the fact that the dollar bill features George Washington, whose name in Spanish is Jorge, leading to the colloquial term ‘Coco’.
Understanding the Exchange Rate Provided by Sunat
The exchange rate published by Sunat serves as a reference for tax-related matters. It helps individuals determine the exchange rate applicable in their accounting when buying, selling, or completing tax returns, as stated by financial expert Jorge Carrillo Acosta.
How to Identify Counterfeit Dollars
To ensure that your bills are genuine and not counterfeit, it’s crucial to examine them thoroughly. Consider following videos or guides that demonstrate how to identify authentic dollar bills.
What Factors Influence the Behavior of the Dollar in Peru?
Two main factors influence the dollar’s value in Peru:
- Peru’s Relationship with the United States: Since the dollar is predominantly used in the US, fluctuations in the relationship can affect its pricing.
- Market Expectations: Economic stability vs. risk perception greatly impacts dollar demand. When interest rates in Peru exceed those in the US, the exchange rate tends to decrease as more capital flows into the soles. Conversely, signs of risk lead to increased dollar demand, driving the price up.
Benefits and Practical Tips for Managing Dollar Transactions in Peru
Owning US dollars can be advantageous in Peru due to the stability they offer compared to soles. Here are some tips:
- Stay Updated: Regularly check reputable sources for current exchange rate information to make informed trading decisions.
- Choose the Right Bank: Select banks that offer competitive rates for dollar purchases and sales. The above table can help you find the best option.
- Watch the Market: Keep an eye on market fluctuations; timing your purchase can lead to better rates.
- Use Official Channels: Whenever possible, exchange your dollars through official banks or recognized exchange houses to avoid fraudulent activities.
First-Hand Experience: Currency Exchange in Peru
Many travelers and local businesses often share their experiences regarding currency exchange in Lima. A common practice is utilizing the services of exchange houses at Jirón Ocoña. Although rates may be higher than banks, the convenience and speed often attract customers. Others suggest securing a reliable bank account that provides consistent rates and minimizes fees.