The price of the dollar in Peru closed higher on Monday, amid a global wave of aversion to risk assets that boosted the dollar, due to fears of a rapid slowdown in the world economy due to monetary tightening.
The exchange rate operates at S/ 3,824 per dollaran advance of 0.24% compared to the close of Friday, at S/ 3.814, according to data from the Central Reserve Bank of Peru (BCR). So far this year, the greenback accumulates a decline of 4.18% compared to the last price of 2021, at S / 3,991.
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During the day there was upward pressure due to demand from the offshore market, mitigated to a small extent by the supply of local corporations. US$ 97 million were traded in the market at an average price of S/ 3.8288.
“Today there was a currency repo expiration for S/ 300 million, the same ones that were renewed for one week at a rate of 5.99%”, pointed out Gianina Villavicencio, Manager of Foreign Exchange Brokerage at Renta4 SAB Peru. On the other hand, in the parallel market or the main exchange houses, the dollar it is bought at S/ 3,800 and it is sold at S/ 3,835, according to the portal quantumestaeldolar.pe.
Regionally, Latin American currencies and stock markets fell on Monday, amid a global wave of aversion to risky assets that fueled the dollardue to fears of a rapid slowdown in the world economy due to monetary tightening.
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According to the Reuters agency, the dollar hit a two-decade high on Monday as rising US Treasury yields prompted hedge funds to raise their bullish bets, while the Chinese yuan weakened below 6.77 per cent. dollar after meager trade data.
The last leg of the ascent dollarwhich began after the Federal Reserve raised interest rates by 50 basis points last week, has affected currencies that had previously been immune to the rise in the greenback, such as the dollar Australian, the yuan and even cryptocurrencies.
Meanwhile, MSCI’s main emerging market stock index fell to its lowest level since July 2020 on Monday, under pressure from rising interest rates, a slowing Chinese economy, the Ukraine and a dollar strong.