Dollar interrupts its downward streak and rises to S / 3.93 after ratings from Fitch and S&P

After five days of decline, the dollar resumed its upward trend in the foreign exchange market despite the intervention of the Central Reserve Bank (BCR), after learning that the risk rating agencies Fitch and Standard & Poor’s (S&P) reduced the rating of Peru; while the US currency weakened globally due to the recovery of the global appetite for risk.

At the end of the day, the price of dollar It stood at S / 3.9320 in the interbank market, a level higher by 0.31% compared to the S / 3.9200 at the close of the day on Thursday, according to data from the BCR.

The dollar the day began to fall and touched S / 3.9050, but then it resumed an upward trend. To attenuate the volatility of the exchange rate, the BCR it placed exchange swaps for S / 650 million in three auctions, as well as Adjustable Deposit Certificates (CDR) for S / 350 million in two auctions.

Traders reported that the appreciation of the dollar in the local market occurred after it was known that the rating agencies Fitch and Standard & Poor’s reduced their long-term Peruvian debt notes, while the outlook weakened due to doubts about the government of President Pedro Castillo .

Globally, the dollar it strengthened after the September retail sales data in the United States, which improved confidence. Retail sales rose 0.7% last month, against expectations of a 0.2% decline, helped in part by higher prices.

Reuters reported that the index dollar it was down 0.106% to 93,941 after hitting a one-year high of 94.563 on Tuesday.

With the result of the day, the dollar accumulates a gain of 8.65% against the sun in the local market so far in 2021, after closing at S / 3,619 last year.