How to take advantage of the drop in the price of the dollar?

The dollar has exhibited a notable decline with respect to the peruvian sun since last January 6, since it has reached levels of seven months ago. While the green ticket It was no longer at the threshold of S / 4.00 since December 24, 2021, its recent downward trend has aroused the interest of its users to get some benefits.

So far in 2022, the safe haven currency has fallen in our country by -2.36%; according to the Central Reserve Bank of Peru (BCRP). It should be noted that this phenomenon has also been seen in many of the emerging markets, which have gone hand in hand with the global performance of the currency. In fact, the US currency fell this Wednesday, January 12 after the inflation data in the US (7%, the highest since 1982).

In this context, experts consulted by La República stated that one of the main tasks of people who use Dollars will be to identify what percentage of your income or obligations are in said currency so that at times of high volatility do not affect their economy and do not take away liquidity.

In dialogue with this newspaper, Javier Pineda, CEO of the digital exchange Billex, suggested that this “is a good time to take advantage of buying dollars that are cheaper to have an exposure as part of your savings or reserves.”

For his part, Omar Azañedo, CEO of Noncash, advised to take advantage of the situation to “get out of debt in dollars and try to set an exchange rate according to what has been happening in the last year or in recent months.”

If we exemplify the above, a rent of US $ 1,000 in 2021 was worth approximately S / 4,050 (with an average TC of S / 4.05). If we buy dollars at today’s price it would be S / 3,900; In other words, it would represent a saving of S / 160 in the coming months if the greenback were to rebound again due to different factors.

“The dollar continues to be in moments of crisis a currency that preserves its value and more so in a dollarized economy like ours,” said Azañedo.

In turn, Edson Campaña, CEO of Securex Peru, urged that savings be made for other expenses that are generally in foreign currency. For example, a master’s degree or other higher education, or the purchase of a home or vehicle.

“Let us remember that it is always important to have dollars, either for a future purchase or for an emergency. We always recommend changing at least 10% of income to dollars on a monthly basis. In this way, it will be able to respond to any eventuality, ”Campaña pointed out.

In the same way, he asked that it also take advantage of the investment of shares. It is a market that could generate profitability and that could bring great benefits to the families’ economy.

Last but not least, the three consulted agreed that the person must borrow in the same currency in which they receive income and not vice versa.

“It is very important that if we do not earn or do not generate income in dollars, we cannot get into debt at this time of crisis, volatility, uncertainty, pandemic, global economic crisis, in that currency; and if we did, the financial institution should be used to agree on an exchange rate to remove the uncertainty that this could rise, “explained Azañedo.