Exchange rate falls: today, Tuesday, February 20, it opened at S/3.77

According to the Bloomberg portal, the dollar continued to decline at the opening of today’s session, Tuesday, February 20, reaching S/3.77.

Compared to last Monday’s close – when it reached S/3.7970 after several weeks above S/3.80 – there is a decrease of 0.72%.

In the parallel market, the US monade is bought at S/3.76 and sold at S/3.80; while in the banking market, the BCP gives S/3,728 for purchases and S/3,819 for sales.

So far this year, the exchange rate has accumulated a variation of 2.43% and in interannual terms, of -1.27%.

According to economic analysts interviewed by the Central Reserve Bank of Peru (BCRP), the dollar would reach S/3.75 in 2024; Companies in the financial system and non-financial companies have frozen their expectations at S/3.80.

Meanwhile, from Renta4 SAB, they point out that they influence the upward trend in the exchange rate seen in much of February because the United States Federal Reserve maintains its reference rates between 5.25% and 5.50% and it is increasingly less likely to cut them immediately.

“So, As this gap between our interest rate and that of the United States narrows, It causes investors to prefer to invest abroad and there is an outflow of dollars from the country. Because companies demand more dollars, then the price rises,” said Asvim Asencios, currency trader at Renta4 SAB.