For the fourth consecutive session, the dollar fell in value and left the threshold of S / 4.00 in which it had been for more than ten weeks.
The exchange rate fell 1.58% yesterday and stood at S / 3.9750, the lowest level since Pedro Castillo took office.
With this figure, the sol was the most appreciated currency in Latin America, reported Bloomberg.
Enrique Díaz, former manager of the Central Reserve Bank of Peru (BCRP), said that the successive appreciation of the national currency is a message from economic agents to the Executive.
“It is a good message for the Government, and it has already understood it. He has told you to handle what he says well, not to create uncertainty. They have responded with the ratification of Mr. Velarde and that they will prioritize the economy, ”he told La República.
“The exchange rate price is correcting the fear and uncertainty factor that took hold with the previous cabinet,” said Javier Pineda, CEO & Founder of Billex, referring to the fact that markets feel calmer as they perceive less uncertainty politics.
Ana Reátegui, Director of Executive Education at ESAN, announced that the dollar may still lose some points in the coming days and thus it will stabilize.
“It will find, through a market process, a point at which it will hold for a while, if things remain calm,” he said.
Those who change or buy dollars express their relief at the decline in the value of the currency, but it is still a reason to express their annoyance at the rise in prices of food, fuel and electricity, among others.
In this regard, Reátegui said that the effects will not be immediate on inflationary pressure, “since the purchase of inputs was made with an expensive dollar and it will be necessary to wait a few weeks for them to adjust to prices, when the stocks are replaced ”.
However, once again the experts consulted agreed that trust is not fully restored. “Agents can decide whether to continue betting or invest in another country if it is not restored,” said Reátegui.
“There are some nuances such as the possible hypothesis of a constituent assembly, which is the agents’ greatest concern,” added Díaz, despite the fact that Prime Minister Mirtha Vásquez has already declared that it is not a priority.
On the other hand, they highlighted the role of the Central Bank, which since October 6 has only sold US $ 10 million directly. “The BCR is satisfied with the exchange rate, probably the other days it will not intervene either,” concluded Reátegui.
The effects of the exchange rate before and after
In digital exchange houses such as Rextie, Billex, Noncash and FTB, the purchase price ranged between S / 3,954 and S / 3,979; while the sale fluctuated between S / 3.98 and S / 4.01. Transactions behaved unevenly, some of them showed more purchases of the “greenback” and others experienced greater supply.
The exchange rate accumulates a percentage variation of 10.66% in the last 12 months and 9.84% so far in 2021; figures well below the 14% in which it was located until October 6.
According to Javier Pineda, 25% of inflation has a direct impact on the dollar.
The word
Enrique Díaz, expdte. SMV
“It is a good message for the Government, and it has already understood it. He has told you to handle what he says well, not to create uncertainty. They have responded with the ratification of Julio Velarde ”.
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