The dollar broke its downward trend of four consecutive sessions and closed the week at S/ 3.7760; an appreciation of 0.96% with respect to the previous closing (S/ 3.7400); as reported by the Central Reserve Bank of Peru (BCRP) at 1:30 p.m. on Friday, February 11.
During the day, the greenback presented its lowest price of S / 3.7277. Likewise, the Peruvian sol was the most depreciated currency, reaching -0.94%, only ahead of the Argentine peso (-0.13%), Colombian peso (-0.23%) and the Chilean peso (-0. 37%).
Likewise, the BCRP intervened in the foreign exchange market with a 3-month BCRP CDV auction; for S/ 200 million at an average margin of 0.03 percent and 1-month BCRP CDs for S/ 499.9 million at an average interest rate of 3.47 percent.
This comes after the president of the European Central Bank, Christine Lagarde, warned that the rush to tighten monetary policy could damage the economic recovery in the region, for which the euro fell 0.27%. While the pair of her, the dollar was on track to close with gains by rising 0.16%.
While US stocks fell, dragged lower by tech stocks, as investors assessed the prospects for monetary tightening after policymakers dismissed feverish rate-hike speculation stoked by red-hot inflation.
Financial markets are fully pricing in a rate hike of at least 25 basis points by the Fed at its March 15-16 monetary policy meeting and are forecasting a 71.5% chance of a 50 basis point hike. , according to CME Group’s FedWatch tool.
With information from Reuters and Bloomberg.
Source: Larepublica
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