The exchange rate closed today with S/3.7680, 0.91% more than yesterday, where it targeted S/3.7340, according to the Central Reserve Bank of Peru (BCRP).
In the parallel market, the greenback is now at S/3.71 for purchase and S/3.75 for sale; while in banking, the purchase and sale is at S/3,766 and S/3,779, respectively.
The Fed will have an important meeting this Tuesday and Wednesday, May 1, in which analysts expect prudence to prevail and the central bank to be willing to maintain interest rates at current levels – in the range of 5.25 to 5.50. %– given the recent rise in inflation in the United States.
“The market considers that the president of the Fed, Jerome Powell, could slow down plans to begin a progressive lowering of rates. The PEN moved in line with the rest of the currencies in the region, where the dollar appreciated up to 1.97% (CLP), explains Jimena Torres, Foreign Exchange Trader at Renta4 SAB.
On the other hand, $347MM was traded today in the interbank spot market, being the highest flow traded since last Wednesday. Furthermore, the session was driven mainly by the flow of demand from non-resident clients, who expectantly await a statement from the Fed regarding the progress of its monetary policy, Torres points out.
So far this year, the dollar has accumulated a variation of 1.65% and in year-on-year terms, 1.56%, according to the BCRP.
Source: Larepublica
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