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Dollar closes slightly higher after Fitch downgrades Peru’s outlook to negative

The price of the dollar in Peru closed slightly higher this Friday, October 21, after the agency Fitch Ratings lowered Peru’s rating outlook from BBB stable to negative the day before.

The exchange rate ended at S/3,988 for dollara slight increase of 0.08% compared to Thursday’s close of S/3,985, according to the Central Reserve Bank of Peru (BCR).

So far this year, the greenback accumulates a decline of 0.08% compared to the last price of 2021 at S / 3,991.

Today, US$316 million were traded in the market at an average price of S/3.9835, said Alexander Javier Bernaola, Foreign Exchange trader for Renta4 SAB.

Today’s session began with the opening of the market at S/3.9770, mixed flow, local banks, as well as corporate. The BCR placed a six-month currency swap sale for S/500 million. Next week we have important currency swap maturities that could move the exchange rate“, he pointed.

In the parallel market or the main exchange houses the dollar it is bought at S/3.97 and it is sold at S/3.99, according to data from the portal

Fitch Ratings on Thursday revised Peru’s outlook to negative from stable. For the rating agency, one reason would be the deterioration in political stability; furthermore, the government’s effectiveness has increased downside risks to the country’s ratings.

Globally, Japan’s consumer core inflation rate accelerated to a new eight-year high of 3% in September, exceeding the central bank’s 2% target for the sixth consecutive month, as the yen’s slide to lows of 32 years continues to increase import costs.

Source: Elcomercio

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