EconomyDollar in Peru: What is the exchange rate for...

Dollar in Peru: What is the exchange rate for today, Saturday, August 6, 2022

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The dollar price in Peru opened higher on Saturday, after the release of employment data in the United States that would dispel fears of a possible recession.

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The exchange rate operates at S/ 3.91 per dollar, an advance of 0.32% compared to Thursday’s close at S/ 3,901, according to data from the Bloomberg agency.

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So far this year, the greenback accumulates a decline of 2.25% compared to the last price of 2021 at S / 3,991.

On the other hand, in the parallel market or the main exchange houses, the dollar is bought at S/ 3,890 and is sold at S/ 3.91, according to the portal cualestaeldolar.pe.

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Globally, the dollar rallied broadly on Friday after a stronger-than-expected US jobs report for July suggested the Federal Reserve may need to continue raising short-term interest rates.

According to the Reuters agency, the dollar index, which measures the dollar against a basket of currencies, extended gains considerably after the report, which showed that non-farm payrolls increased by 528,000 jobs last month, the biggest gain since February. That was well above economists’ expectations.

The index, which remains below its mid-July high, was up 0.9% at 106.63. It was up just 0.2% just before the report.

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“This is a much stronger report than expected… What it means is that the Fed cannot pivot at this point. The Federal Reserve has to continue raising rates. People who say to take it easy are being displaced by this report,” said Axel Merk, president and chief investment officer of Merk Investment in Palo Alto, California.

Source: Elcomercio

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