Today, Monday, October 18, 2021, the The price of the dollar in Peru starts at S / 3.9142, according to the Bloomberg portal. This after the greenback stopped its fall last week and was quoted at S / 3.9320 on Friday, October 15, according to the Central Reserve Bank of Peru (BCRP). The North American currency fell five consecutive days after the Government ratified Julio Velarde as president of the BCRP and Mirtha Vásquez was appointed new head of the Council of Ministers.
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The price of the dollar in Peru fell almost 4% during the past week, despite the slight rebound that was registered on Friday, October 15. Different specialists commented to La República that it would be a “Rebound effect” in the exchange rate as a result of the successive fall and strong demand for the North American currency.
The Peruvian economy grew by 11.83% during August, compared to the same month of 2020, reported the National Institute of Statistics and Informatics (INEI). The sector Accommodation and restaurants benefited the most during this period, as it reported an advance of 96.48%. “The August result reflects the strength of the Peruvian economy and we estimate that in September the economy will continue to grow at a good pace,” said Pedro Francke, Minister of Economy and Finance.
What is the exchange rate?
To change a currency we use the exchange rate which is the price of the currency of one country (currency) in terms of another. It is also known as the exchange rate in other countries.
Why is the exchange rate important?
The exchange rate or exchange rate is important because it helps us to know how many units of national currency must be paid to obtain a foreign currency. For example, in Peru, to obtain a dollar, three soles and a little more must be given.
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