He dollar closed the day higher – for the third consecutive session – this Monday, February 5, 2024 and was located at S/3.8640, which meant an advance of 0.84% compared to Friday’s close when it was quoted at S/3.8320, according to the Central Reserve Bank of Peru (BCRP). So far this year the currency has accumulated a variation of 4.24%.
At 2.15 pm the US currency in the parallel market was quoted at S/3.83 for purchase and S/3.86 for sale. While in the banking market the purchase reached S/3,717 and the sale reached S/3,906 at the windows of the Banco de Crédito del Perú (BCP).
According to Gianina Villavicencio, Intermediation Manager of Divisas de Renta4 SAB, during the day the strong demand came from the off-shore market, while the supply was from local corporations; leading to dollar at a maximum price of S/3.8640. US$383 million were negotiated in the market at an average price of S/3.8584.
In addition, there was an expiration of Regular Currency Repos for S/20 million, the BCRP intervened by placing exchange swaps for sale for S/400 million in 9 months and with direct sales in the market for US$22 million at a price of S/3.8640 .
“At a global level, the dollar strengthens after the employment data of USA on Friday, which exceeded market expectations, triggering US bond yields. Additionally, The president of the Federal Reserve, Jerome Powell, has indicated that the reduction in interest rates may not occur before Marchsince the central bank awaits more economic data that confirms the downward trend in inflation towards the 2% objective,” Villavicencio explained.
The dollar index was trading at 104.26 (+0.46%).
Source: Larepublica
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