In the face of conflict between Russia and Ukraine, the purchase of dollars would recede

The fall in the exchange rate in Peru, registered in recent months, caused companies -in order to increase their profitability- to increase the operations of the purchase of the greenbackunlike last year, whose highest level managed to place this currency up to S / 4,138, the Billex digital platform has indicated.

During the month of January and so far in February of this year, companies have increased the purchase of dollars on the Billex platform by up to 350%, compared to a similar period in 2021. However, given the recent war between Russia and Ukraine, the purchase of this currency could go back.

“Many companies have been buying dollars, taking advantage of the fact that the dollar continued to fall to replenish their inventories, resume their commercial activity, meet future obligations and investments, and some more cautiously anticipating a possible rise in the exchange rate not only in the face of a possible disapproval of the Torres cabinet, but also because of the foreign plane, such as the recent Russian invasion of Ukraine, which has caused a recent rise in the dollar at the international level”, affirms Javier Pineda, general manager of Billex.

so far this year, the greenback accumulates a decline of 4.93% compared to the last price of 2021, in S/ 3,991, according to the Central Reserve Bank (BCR). “Given this new international scenario and in the face of a possible denial of confidence in the Torres cabinet, the dollar could be above S/3.90, which could also cause a drop in demand for this currency by some companies, especially those related to the import business”, adds Pineda.

So far in 2022, of the total of US$66 million in traded volumes, 56% corresponds to the purchase of dollars and 44% to the sale of dollars by companies. It should be noted that last year, registered dollar purchase transactions by companies on the Billex platform accounted for 60% of total operations, while sales accounted for 40%.