Dollar in Peru TODAY, October 23: check price and quote on the day, according to the BCRP

Check in this note the price of the dollar in Peru for today, Monday, October 23, 2023.

According to the Central Reserve Bank (BCR), the exchange rate closed on its last day, Friday, October 20, at S/3.881, with an average interbank exchange rate of S/3.8746. The maximum was S/3.8810 and the minimum was S/3.8650.

During the day, the dollar pushed upward given the high demand in the off-shore market, said Gianina Villavicencio, manager of Foreign Exchange Intermediation at Renta4 SAB. Thus, US$492 million were traded in the market at an average price of S/3.8708, she noted.

Sunat recorded the price of the dollar at S/ 3,867 and S/ 3,876 in purchase and sale, respectively. According to Google Finance, the dollar would be quoted at S/ 3.86. Meanwhile, the website quéestaeldolar.pe is quoting the purchase at S/ 3.86 and the sale at S/ 3.88.

Dollar behavior

Globally, the dollar fell slightly after the yield on the US 10-year bond moved away from the 5% level ahead of remarks by Federal Reserve Chairman Jerome Powell in a debate on the economy and expecting keep high rates for longer in their fight to reach an annual objective inflation of 2%, Villavicencio explained.

According to Powell, “Further evidence of persistently above-trend growth, or that labor market tensions are no longer easing, could jeopardize inflation gains and justify further tightening of monetary policy.”.

How did the dollar do last week?

The interbank exchange rate closed last week with an average value of S/3.8746 with a maximum value of S/3.8810 and a minimum of S/3.8650, according to what was reported by the issuing entity.

According to the issuing entity, the US currency closed on Friday, October 20 in the country with a value of with an average interbank rate of S/3.8746.

On Thursday, at the local level, the markets were a little upset because the Legislative Branch presented a vacancy motion against President Dina Boluarte for “unconstitutionally leaving the country,” explained Allison Pérez, a trader at Divisas de Renta4 SAB.

Regarding the global environment, the United States received higher inflation data than expected, which reinforces the idea of ​​high interest rates for longer, making the US currency more attractive, both specialists agreed.

Maciel considered that it is important to pay attention to the news from the Middle East (Israel-Hamas conflict), Eastern Europe (Russia-Ukraine war) and the United States (Federal Reserve decision on the interest rate).

“We will be going through moments of high uncertainty and where the price of the dollar is usually a variable taken as a sounding board”he added.