In Peru, both individuals and companies are aware of the exchange rate, since its variation can generate money savings and, in other cases, some losses. Therefore, they must take into account thatSince 2021, the volatility of the dollar has been greater than that recorded historically, according to the Rextie exchange house.
The value of this currency tends to fluctuate, influenced by supply and demand, as well as global political and economic aspects. That is why, according to experts, it is key to stay informed about what is happening and what can happen with this currency, even when dollars do not need to be exchanged. This Wednesday, January 3, the currency closed at S/3.7350.
In this regard, Matías Maciel, CFO and Co-Founder of Rextie, explains What will be the trend of the dollar for the beginning of 2024 with the aim that users can make better decisions.
What will be the exchange rate trend at the beginning of 2024?
“The dollar trend for the beginning of 2024 would be very marked by the expectation of a reduction in reference rates in the United States during Q2 (second quarter). This should keep the exchange rate stable or downward (below S/3.70)“Maciel said.
The expert added that in any case, situations of uncertainty must be taken into account. and international tension such as the Russian invasion of Ukraine, the Israeli invasion of the Gaza Strip, as well as geopolitical tensions between the United States, Taiwan and China; and other complex contexts, which could disturb the stability of the currency.
At the local level, the Central Reserve Bank continues with its policy of reducing the interest rate, which makes the national currency less attractive compared to the dollar, but helps to reactivate the depressed numbers of the Peruvian economy. Social and political noise also has the potential to end up influencing the price of the US currency.
It is worth remembering that, as of December 14, the price of the dollar showed a decrease to S/3.69, when the message from the Federal Reserve of the United States (FED) hinted that we could observe a reduction in rates of interest at the end of the first quarter of 2024.
A rise in interest rates in the United States tends to strengthen the dollar of said country globally, while a decline weakens it relatively compared to other currencies.
Key recommendations for exchanging dollars
- Carry out your currency exchange operations from Monday to Friday between 9 am and 1 pm In that range, financial institutions have the best prices to buy and sell dollars.
- stay informed. You can find updated information on exchange rates at the Superintendence of Banking, Insurance and AFP (SBS), the Central Reserve Bank of Peru (BCRP), Sunat, and in online exchange houses. Digital platforms usually offer the best rates, but it is important to compare prices before making a transaction.
- Choose platforms that are trustworthy. Check that they have security guarantees such as ISO 27001 certification.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
