The exchange rate of the dollar closed slightly higher this Tuesday, March 7, and was located at S/3.7980, according to the official marker of the Central Reserve Bank of Peru (BCRP).
The day before, the US currency had ended the day at S/3.7860, and then fell to the opening of S/3.78 this Tuesday. With this, the dollar registers this afternoon a progress of 0.32% compared to Monday’s close.
According to Fabiola Gutiérrez, Currency Trader at Renta4 SAB, during the day the demand came from corporations, “taking the dollar to a maximum level of S/3.7950”. US$ 481 million were negotiated in the market at an average price of S/3.7864. In addition, there were maturities of exchange swap sales for S/ 300 million.
“Globally, the dollar strengthened after Jerome Powell’s comments before the US Senate Banking Committee,” Gutiérrez said.
Thus, the president of the Federal Reserve explained that, although inflation has reversed its upward trend, it is still not at a controlled level, the Fed’s target being 2%, so they will continue with increases for the interest rate. reference even higher than anticipated. Meanwhile, the DXY was trading at 105.50 at the close of the market.
At the local level, the president of the BCRP, Julio Velarde, told Canadian investors that there is still room to raise the reference rate, currently located at 7.75%, in order to contain inflation.
During Peru Day at the PDAC 2023 mining convention, Velarde said that the GDP in January fell more than 4% due to social protests, a drop that even reached 14% last December. Therefore, it could affect the recovery forecasts for the end of the year.
Source: Larepublica
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