Exchange rate: The dollar closed the week at S/ 3,788

The price of the dollar in Peru closed higher on Friday, despite the intervention of the BCR and expectations that the drop in the price of raw materials could curb inflation and relax the rise in interest rates.

The exchange rate it ended at S/ 3,788 per dollaran advance of 0.67% compared to the price of Thursday in S/ S/ 3,763, according to data from the Central Reserve Bank of Peru (BCR). So far this year, the greenback accumulates a decline of 5.07% compared to the last price of 2021 at S / 3,991.

“In the local market, US$ 207 million were negotiated at an average price of S/ 3,782. The demand came largely from non-residents and corporations, in addition to this there were currency swap maturities for S/ 400 million. The BCR intervened by placing exchange swaps for sale for S/ 670 million”, said Asvim Asencios, foreign exchange trader for Renta4 SAB.

On the other hand, in the parallel market or the main exchange houses, the dollar is bought at S/ 3,740 and sold at S/ 3,790, according to the portal cualestaeldolar.pe.

Regionally, Latin American currencies were mixed on Friday as stock markets posted gains on expectations that falling commodity prices could curb the inflation and relax the rise of interest rates.

According to the Reuters agency, the week has been marked by sharp falls in raw materials due to concerns that the world economy will falter and that interest rate hikes will hurt growth, which in turn is leading operators to cut expectations of inflation and to cut some bets on the magnitude of the hikes.

“Inflation will remain elevated and above target, but it is increasingly likely that it will start to peak in the coming months”said Andrew Hardy, investment manager at Momentum Global Investment Management.

“Markets could take it reasonably well: there is potential for a recovery later in the year”. Also, the dollar index, which measures the greenback against a basket of six major currencies, retreated and headed for its first weekly decline in June as traders reduced their bets on where interest rates might peak. interest.