Exchange rate closes stable despite the global rise in the dollar and the intervention of the BCR

The price of the US dollar in Peru ended unchanged on Tuesday, amid the pronouncement of the President of the Republic, Pedro Castillo, on the eventual closure of mining operations in Ayacucho and the global rise in the currency.

At the end of operations, the exchange rate It was quoted at S / 4,011 per dollar in the interbank market, the same value as that registered at the end of Monday, according to data from the Central Reserve Bank (BCR).

The BCR intervened twice in the session through sale exchange swaps (fixed rate), both for S / 200 million for 1 year, at an average rate of 0.51% and 0.53% to curb the volatility of the dollar.

President Pedro Castillo partially dissipated market uncertainty after stating that he will convene business unions, subnational governments and communities to discuss mining operations, within the framework of the announcement by the president of the Council of Ministers, Mirtha Vásquez, on the plans to close four mining units in Ayacucho.

“There has not been and will not be any unilateral, arbitrary or illegal decisions. The government will convene business unions, regional and local authorities, and communities to discuss these issues and reach consensus for the benefit of all Peruvians, “he said during a speech in Arequipa.

However, the index dollar, which measures the performance of the currency against a basket of prominent currencies, gained ground internationally and hit 16-month highs after the nomination of current Federal Reserve (Fed) president, Jerome Powell, for a new term in front of the institution.

Powell’s new nomination supports the view that the Fed is likely to start raising rates in mid-2022, once its bond buying program ends, which in turn will boost demand for the greenback.

In the parallel market or exchange houses of Lima, the exchange rate The purchase is priced at S / 3,985 and the sale is S / 4,025.