The price of dollar It opened lower this Tuesday, January 2, 2024 and stood at S/3.7038, according to Bloomberg. This means a decline of 0.09% compared to the previous day’s close when it was quoted at S/3.7070. according to the Central Reserve Bank of Peru (BCRP). It should be remembered that the currency closed 2023 with a variation of -2.63% in relation to the sol.
At 9:30 am the US currency in the parallel market was at S/3.70 for purchase and S/3.73 for sale. While in the banking market the purchase reached S/3.6630 and the sale reached S/3.7490 in the Banco de Crédito del Perú (BCP).
On an international level, the dollar rose on the first trading day of the year, as attention focused on US employment data and this week’s European inflation figures, that may give clues about the next movements of central banks, while bitcoin rallied.
The dollar index, which measures the performance of the US currency against a basket of six major currencies, rose 0.17% to 101.55. In 2023 it fell 2%, breaking two years of gains, as investors weighed the possibility of the Fed cutting rates this year.
On the opposite side to the rise of dollar was the euro, which fell 0.17% as traders digested data showing that euro zone factory activity contracted in December for the 18th consecutive month. The currency also rose against the Japanese yen, gaining 0.43% to 141.4 yen.
Sterling was trading steady at $1.2724, having posted its best performance since 2017 with a 5% gain last year, although the weakening economy and election uncertainty make that performance unlikely to be repeated.
While the world of cryptocurrencies started the year strong, with Bitcoin hitting a 21-month high of $45,532 on rising expectations that the Stock Exchange Commission and US Securities and Exchange Commission to soon approve exchange-traded bitcoin spot funds.
FED minutes will provide greater clarity
The probability that the Federal Reserve (FED) cut interest rates starting in March is 86%, according to CME’s FedWatch tool, with more than 150 basis points (bps) of easing planned for this year. Minutes from the Federal Reserve’s December meeting will be released on Thursday, January 4, providing more insight into central bankers’ thinking.
With information from Reuters.
Source: Larepublica
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