Exchange rate closes higher due to the sale of US $ 284 million of the BCR and uncertainty about Camisea

The price of the US dollar in Peru rose at the close of the exchange day on Tuesday, amid the uncertainty generated from the Government after threats to nationalize the exploitation of Camisea gas.

At the end of operations, the exchange rate was quoted at S / 4.128 per dollar in the interbank market, a rise of 0.12% compared to S / 4.123 at the close of Monday, according to data from the Central Reserve Bank (BCR).

The BCR it intervened in today’s session through sale exchange swaps for a total amount of S / 800 million. It also sold US $ 284 million in the spot market at an average exchange rate of S / 4,127 per dollar.

The greenback reached a new historical maximum the day before after the announcement of the head of the Presidency of the Council of Ministers (PCM), Guido Bellido, to nationalize the Camisea gas in case the concessionaire in charge of its exploitation did not renegotiate the distribution of profits in favor of the State, which raised the concerns of investors.

Bellido and the Minister of Energy and Mines, Iván Merino, went to the offices of Pluspetrol, company in charge of Camisea, in order to present an official letter with which to initiate the required renegotiations from the Executive Power.

Internationally, the US currency also appreciated as rising US Treasury yields increased the currency’s attractiveness.

The return on debt has risen since the end of last week, after the Federal Reserve (Fed) said he is likely to start cutting his monthly bond purchases as early as November and hinted that interest rate hikes could follow.

In the parallel market or exchange houses of Lima, the exchange rate is quoted at S / 4,115 for the purchase and S / 4,140 for the sale.