March 25, 2023

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Exchange Rate: Dollar Rises to New Historic Closure Closed at S / 4.09 Uncertainty Due to Political Noise NNDC | Economy

The The foreign exchange market closed at a new historic level on Friday, despite the intervention of the Federal Reserve (PCR), amid uncertainty among investors due to political turmoil in Peru.

At the end of Friday’s activities, The It was in the S / 4.0960 interbank market, its highest level since recording the S / 4.0850 level last Wednesday. BCR data show that the US currency is up 0.52% compared to Thursday’s close.

The dollar started the day on an uptrend and touched S / 4.0964. BCR sold US $ 212 million at the end of the session, averaging the exchange rate to S / 4.0935, to offset the rise of the Greenback. .

So far in 2021, the Monetary Authority has made $ 5.825 million in cash (spot market) sales.

Renewed political uncertainty puts pressure on the exchange rate. Operators Bellido pointed out that the appointment of Pedro Frank to lead the Ministry of Economy and Finance (MEF) will not change the upward trend of the dollar.

They pointed out that investors are concerned about conflicts between management and Congress that end in vacancies or liquidation processes. Earlier in the day, Congressman Guido Belido and Interior Minister Juan Carasco were asked to appear before the full session of parliament. In addition, the official legislator, Guillermo Permejo, promised that Congress would be dissolved if the opposition was not satisfied with the cabinet made by President Pedro Castillo.

Internationally, the dollar index traded at a one-week high of 92.43 units against a basket of currencies, gaining 0.4% so far this week after falling 0.9% last week, the highest since May.

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As a result of the day, the dollar has gained 13.18% so far this year over the sun, after completing 2020 at S / 3,619.

On the other hand, on the streets of exchange houses and capital (equivalent market), the exchange rate is S / 4,085 for purchase and S / 4,115 for sale.