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The dollar lost almost 4% in the week, despite the rebound on Friday

The price of the dollar rose slightly at the end of yesterday’s operations and closed at S / 3.9320, after five days of intense loss. In this way, the Peruvian sol appreciated by 3.45% in the week and was the biggest winner in America, marking its best week in more than 30 years, Reuters reported.

Nevertheless, Prior to yesterday’s operations, two reports from two major risk rating agencies announced the reduction of Peru’s credit rating, something that many took as the reason for this new rally in the safe haven currency.

Consulted about it, Juan Jose Marthans, former head of the Superintendency of Banking and Insurance (SBS), said that “the result of the rating agencies is worrying, but it did not merit a kind of extreme reaction.” “This does not have much to do with the exchange rate environment, but the dollar is modulating little by little, from this fall, and looking for a type of settlement to later determine if it is going down something more or is going to be maintained,” he said. The Republic.

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Matías Maciel, CEO & Founder de Rextie, was manifested along the same lines, for which he called what happened a “rebound effect” as a result of the marathon appreciation he presented in recent days the National currency.

“Any financial asset with a strong downward or upward trend in a consecutive way registers a ‘bounce’ influenced by the fact that people or the dollar market is low enough and went out to buy with greater intensity, which caused the price to register a little raise ”, he detailed.

Relative effects

Jorge Carrillo Acosta, teacher of Pacific Business School, He recalled that the prices of products affected by the rise in the US currency will not be seen immediately due to business expectations towards the government, the stocks of inputs that were bought with a high dollar, and that many companies are recovering their margins. Referents of some companies and specialists consulted by La República, advanced possible results, as long as the dollar maintains the levels shown, as well as the costs of inputs at the international level.

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Pío Pantoja, President of the Peruvian Association of Bakery and Pastry Entrepreneurs (Aspan), announced that it is not possible to specify when a reduction in the price of bread and its derivatives would occur, “since the cost structure of baking rose more than 70% between December 2020 and September of this year ”.

Eduvigis Beltrán, manager Canning Beltrán, he assured that his firm “would begin to lower oil prices as of the fortnight of November.”

Rafael Laca, member of Enekory, said that electricity rates “should present a reduction in the first week of November if the dollar falls more than 3% this month.”

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Copper price scrapes $ 5 a pound

The price of copper rose on Friday due to the rise in energy values ​​that threatened to curb supply of the metal. Thus, the copper resource rose 5.85% and reached US $ 4.78 per pound.

Likewise, the stocks of operators such as London Metal Exchange (LME) and the Shanghai Futures Exchange (ShFE) are at lows, Reuters reported.

High energy prices and possible shortages will affect supply more than demand for metals in the coming months, according to analysts at ANZ.

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The data

Alert. Rafael Laca explained that electricity rates are defined with the exchange rate registered on the last business day of the month.

Reaction. Carrillo Acosta mentioned that many companies were slow to transfer their higher production costs even when the dollar began to rise.

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