Economic analysts expect the dollar to be at S/3.75 at the end of 2024, according to the macroeconomic expectations survey carried out by the Central Reserve Bank of Peru (BCRP). In this way, they have been reducing this variable, since in December 2023 they expected to reach S/3.78 and in November, to S/3.80.
For their part, companies in the financial system and non-financial companies have frozen their expectations at S/3.80 since November of last year.
Dollar is gaining 4.21%
The dollar closed the day on Tuesday with a slight decline and stood at S/3,863. This meant a drop of 0.03% compared to Monday’s close, when it was quoted at S/3.8640, according to the BCRP. Thus, the currency has been gaining 4.21% so far this year, compared to its last close in 2023, when it was quoted at S/3.7070.
In the parallel market, the greenback was quoted at S/3.82 for purchase and S/3.86 for sale. While in the banking market the purchase reached S/3.7710 and the sale reached S/3.9530 in the Banco de Crédito del Perú (BCP).
According to Gianina Villavicencio, Intermediation Manager of Divisas de Renta4 SAB, during the day, the strong demand continues for the off shore market, while the low supply was for local corporations; taking the dollar to a maximum price of S/3.8650.
US$760 million were negotiated in the market at an average price of S/3.8566. “Today (yesterday) there was an expiration of exchange swaps sold for S/548 million, of which S/340 million were renewed for 9 months. The BCRP intervened with direct sales in the market for US$ 99 million at a price of S/3.8640,” the executive explained.
At a global level, the dollar is trading stable after solid economic data from the United States and the statements by the president of the Federal Reserve (Fed), which rules out an early cut in interest rates.
Data
- Cuts. Investors are awaiting comments from at least eight Fed members for more clues on the timing of rate cuts.
- Low. The currency index stood at 104.09 (-0.22%).
Source: Larepublica
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