Dollar closes the week at S/3.8590 and the Lima Stock Market rises 0.14%

So far in January, the dollar has presented variations that respond to the local factor. Although at the end of the first week of 2023 it stood at S/3.7940 —one of the lowest prices in the last six months—, last Thursday it rose to S/3.860, one of the highest levels since November of 2022.

“It can be considered that Thursday’s rise was concentrated in local factors: there was a greater perception of uncertainty and risk, which has pushed the exchange rate up,” economist Juan Carlos Odar explained to this medium.

As recalled, on January 19 protesters from different regions of Peru mobilized towards Lima to demand the closure of Congress and the resignation of President Boluarte.

local factors

Globally, the Fed is expected to raise rates at a moderate pace. This would benefit the demand from emerging markets, such as those of Peru. However, the perception at the local level is negative. “Uncertainty persists, we have a series of activities in the south and north that are paralyzed or operating at a lower level. That is putting some upward pressure on us,” Odar added.

rising stock

For its part, the Lima Stock Exchange (BVL) ended the week with 9 indicators down and 7 up. Thus, it rose 0.14%. “In the first and second week of January we have seen positive profitability, higher than that of foreign markets,” said César Romero, Head of Research at Renta4 SAB.

He also indicated that the mining sector has been the one that has had the highest profits during the year. This is because there was a growth in the price of commodities as a result of the possible pivot of the FED. “Our mining shares go up, as our stock is 40% mines, so the index goes up more than other markets,” he added.

keys

Ticket . The dollar closed the week at S/3.8590, thus, it had a slight decline of 0.03% compared to Thursday’s close.

BVL. The financial sector fell -0.94%, while services and electricity rose 8.57% this Friday.