Exchange rate this Friday the 26th: dollar closes the rise at S/3.7950, its peak in 10 weeks

The dollar exchange rate closed the week higher and stood at S/3.7950, according to the Central Reserve Bank (BCRP). This is the highest level recorded since last November 13, 2023, when it reached S/3.8100.

The greenback had ended the previous session on Thursday at S/3.7670 and then progressed until the opening of this Friday the 26th, which was around S/3.7615 according to official data from the issuing entity.

In this way, the Peruvian sol depreciates by 0.74% against the North American currency, after the latter ended 2023 at S/3.7070.

Fabiola Gutierrez, Foreign Exchange Trader at Renta4 SAB, reports that the dollar had a highly volatile behavior with upward pressure, mainly due to offshore demand. Thus, the dollar started at a minimum level of S/3.7650 and reached a maximum level of S/3.8020.

US$305 million were traded in the market at an average price of S/3.7874. The BCRP intervened by placing an exchange swap sale for S/1,540 million at an average rate of 5.01%. Likewise, there were exchange swap sales maturities for S/580 million.

“Today the US personal spending indicator for the month of December was released, resulting in an increase of 0.7%, greater than the expected 0.4%. Likewise, the PCE price index for the same period was 2. 6% in line with expectations,” says the specialist.

Next week the first meeting of the Federal Reserve of this year is scheduled in which the new level of interest rates will be decided, the consensus of analysts is betting that the level will be maintained at 5.25%-5.50% with a probability of occurrence of 97.9%.

“This panorama changes for the March call since the probability of maintaining rates is reduced to 52.9%,” he concludes. The DXY was trading at 103.45 at market close.