He dollar It closed the day this Wednesday, February 7, 2024 lower and stood at S/3.8420. This meant a decline of 0.54% compared to Tuesday’s close when it was at S/3.8630, according to the Central Reserve Bank of Peru (BCRP). So far this year it has accumulated a variation of 3.64%.
At 2.15 pm, The currency in the parallel market was quoted at S/3.83 for purchase and S/3.87 for sale, according to the portal How Much Is the Dollar. While the reference exchange rate in the banking market reached S/3.7510 for purchases and S/3.9320 for sales in the Banco de Crédito del Perú (BCP).
According to Gianina Villavicencio, Intermediation Manager of Divisas de Renta4 SAB, during the day the demand came from the off shore market, while the offer was from corporations and local banks, lowering their positions; which took the dollar to a maximum price of S/3.8780 and a minimum of S/3.8400.
US$561 million were negotiated in the market at an average price of S/3.8667. Today there was an expiration of exchange swaps sold for S/500 million, and S/540 million were placed for 9 months. The BCRP intervened with direct sales in the market for US$3 million at a cost of S/3.8780.
“At a global level, the dollar corrected a few points downward, picking up market bets on a rate cut by the Federal Reserve in March, thus Treasury bond yields also fell,” said Villavicencio. The dollar index was trading at 103.94 (-0.13%).
How did copper do?
According to Reuters, copper prices fell to a three-week low this Wednesday, February 7, due to the combination of a Weak demand ahead of the New Year holidays in China and the outlook for a stronger dollar weighed on the market.
Three-month copper on the London Metal Exchange (LME) extended losses after comments from Federal Reserve officials indicating the central bank could cut rates in the United States later this year, provided inflation is under control.
Copper fell to US$8,306 per metric tonthe lowest level since January 19.
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.
