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Thursday, September 29, 2022

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Dollar closes down, but still remains above S / 3.90

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The price of the dollar closed yesterday lower for the second consecutive session and traded at S/3.9050, which represented a reduction of 1.26% compared to Wednesday’s close when it stood at S/3.9550, according to the Central Reserve Bank of Peru (BCRP).

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Thus, the Peruvian sol positioned itself as the currency with the best performance in the region along with the Costa Rican peso and the Colombian peso, which advanced 0.21% and 0.04% each, according to data from the Bloomberg agency. A total of US$268 million were traded in the market at an average rate of S/3.9513.

According to Julio Velarde, president of the BCRP, so far this year, the monetary authority has offered US$16 million in the foreign exchange market through spot sales (US$1,012 million) and placement of foreign exchange waps and CDR BCRP for US$1,028 million.

“We have intervened strongly due to the fears aroused by the new government and a greater capital outflow,” he commented during his participation in an Adex conference.

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However, he stressed that “the situation has already moderated” and that the strongest inflationary pressure was recorded until the second quarter of this year.

The price of the North American currency has caused consequences in the countries of the region, including Peru. Photo: EFE

He also stated that this year the “exchange rate has moved more due to international issues due to the perception of risk existing in the market, rather than due to the internal crisis”. In addition, he described as “quite stable” the variation in the price of the dollar so far in 2022.

Stock markets fall and euro trades at parity

After learning that US inflation exceeded 9% in June, the main world stock markets closed yesterday with losses due to investors’ fear of further increases in interest rates by the Federal Reserve (Fed).

Thus, the Dow Jones fell 0.46% and Wall Street closed in mixed territory, the Sao Paulo Stock Exchange fell 1.80%, as did the Buenos Aires Stock Exchange (-1.71%), the Mexican Stock Exchange (-1.52%) and the Lima Stock Exchange (-2.90%).

On the other hand, the euro it traded at par with the dollar and was between US$0.9950 and US$1.0051, according to Reuters.

Data

WTI. The price of Texas intermediate oil (WTI) fell 0.5% this Thursday and closed at US$95.78.

Futures. At the end of operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in August lost 52 cents compared to the previous close, according to the EFE agency.

Source: Larepublica

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