Exchange rate: Why did the dollar close at its highest level in a month and a half despite the fact that the BCR sold US $ 29 million?

The dollar rose on Wednesday to its highest level in more than a month and a half in the local exchange market despite the fact that the Central Reserve Bank (BCR) intervened in the day, while globally the greenback fell after declarations of Jerome Powell, head of the Federal Reserve (Fed) of the United States, on a more restrictive stance that the central bank would adopt due to high inflation.

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At the end of the operations, the price of the dollar stood at S / 4.0710 in the interbank market, its highest level since the price of S / 4.730 registered on October 11, according to data from the BCR. Compared to the close on Tuesday, the currency registered a daily rise of 0.10% and with it spun its sixth day on the rise.

According KambistaThis has been a session marked by the global strengthening of the dollar in the face of growing market fears about the impacts that the omicron variant could have on the world economy. “This upward trend was reinforced by the growing political instability that the country is experiencing due to the recently presented motion for presidential vacancy”, the experts explain.

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