Dollar closes higher although profit is limited after sale of US $ 5 million of the BCR

The price of the US dollar in Peru closed higher on Monday, after the Presidency of the Council of Ministers (PCM) announced the cessation of four mining operations in Ayacucho.

At the end of the operations, the exchange rate was quoted at S / 4,011 per dollar in the interbank market, a slight rise of 0.04% compared to S / 4.009 at the end of Friday, according to data from the Central Reserve Bank (BCR).

The BCR intervened in the session through sale exchange swaps (fixed rate) for S / 172 million for 1 year, at an average rate of 0.57%, and for S / 100 million for 6 months, at an average rate of 0.59%. It also sold US $ 5 million in the spot market at an average exchange rate of S / 4.0250 per dollar.

The holder of the PCM, Mirtha Vásquez, announced last weekend that the Executive has agreed “Create an executive commission to negotiate the withdrawal and closure of four mining units, visits to affected areas and meetings with mining companies”, which has again generated uncertainty in the exchange market.

The measure has been questioned by various business sectors, especially the mining sector, which claims to have heard the news through social networks.

“In the same week, the president, Pedro Castillo, and the Minister of Economy and Finance, Pedro Francke, announce that they are respectful of private property and invoke investors to bet on Peru; and then the Prime Minister, Mirtha Vásquez, signs an agreement to close 4 mining companies in Ayacucho arbitrarily and illegally “, stated Óscar Caipo, president of the National Confederation of Private Business Institutions (Trust).

The Energy and Mines Commission of the Congress of the Republic has already summoned Vásquez to attend Parliament on November 24 to give more details on the matter.

The actions of the Hochschild Mining, one of the companies that would be affected by an eventual cessation of operations, fell more than 50% at the opening of the stock market after the announcement of the PCM.

Internationally, the index dollar It was trading higher on expectations that the Federal Reserve (Fed) could accelerate the pace of policy tightening as inflation in the United States rises.

In the parallel market or exchange houses of Lima, the exchange rate is quoted at S / 4,000 the purchase and S / 4,030 the sale of each dollar.