The dollar fell 1.71% and closed this Thursday at S/ 3.74; the lowest price of Pedro Castillo’s management.
The fall of the greenback occurs amid strong local macroeconomic fundamentals and recent US inflation that reached 7.5% accumulation in the last twelve months.
Alberto Arispe, general manager of Kallpa SAB, highlighted that the fading of the political panic and the performance of commodities have generated stability in the Peruvian exchange market.
“There is still concern, but the dollars have stopped fleeing the country and the price of copper is high. The sum of these factors leads to the dollar falling in the country, ”he explained.
“The main factor is still USA, inflation reached 7.5% and the Fed is expected to raise the rate; it is not clearly defined, and that leads to the dollar falling internationally,” said Jose Duarte, CEO of Firbid, assuring that the consumer price index is getting out of control, despite the fact that the GDP and the unemployment rate have improved in the North American nation.
Enjoy the moment
Omar Azañedo, CEO of Noncash.pe, recommended users to acquire their dollars to pay their debts or other obligations.
Although there is a possibility that the safe haven currency will fall further, the expert warns not to speculate. For this reason, he suggested proposing a budget of his obligations and projecting the exchange rate to buy and sell. Another suggestion is that, as long as it does not affect the liquidity of the importer, he could anticipate his purchase of dollars to cover his future freight expenses.
“This reduction in the dollar will be transferred to the prices of some products,” Azañedo said.
Chinese New Year effect on the dollar
Duarte said that the drop in the exchange rate is also due to a large number of operations that have fallen in the interbank market, such as purchases by large importers for the Chinese New Year, since the firms have not been able to close contracts due to the closings. of the Asian market until February 6.
Source: Larepublica
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