Dollar price closed at 3.68 soles on Thursday, its lowest level in the last 11 months

The price of the dollar reached its lowest level in the last 11 months on Thursday, March 31, and closed at 3.68, according to information from the Central Reserve Bank of Peru on the foreign exchange market at 1:30 p.m.

On Wednesday, dollar had closed at 3.7148, this Thursday opened to 3.7137 and closed at 3.6803, according to Bloomberg. This represents a decline of 0.93%. This exchange rate has not been recorded since mid-May 2021.

PARALELODOLLAR

In the parallel market, the greenback traded at S/ 3,665 the purchase and S/ 3,710 the sale at 1.50 p.m. In tango, in the main banks of the country the dollar stands at S/ 3,703 the purchase and S/ 3,727 the sale.

Meanwhile, in digital exchange offices the lowest sale reaches S/3,698, and the highest is S/3.72. On the other hand, the lowest buy is 3.66 and the highest is S/ 3.67.

“During the morning US$335 million was traded at an average price of S/ 3.69. The supply flow came from foreigners to a large extent and corporations in a month-end context, while the demand for maturities of exchange swaps sold for S/ 400 million,” said Asvim Asencios, forex trader for Renta4SAB.

“Locally, Peruvian exports reached US $4,595 million in February, 7% higher than in the same month in 2021, according to the Lima Chamber of Commerce (CCL). Among the main exported products are copper, gold and natural gas,” he added.

EVOLUTION OF THE DOLLAR

After the first round of the presidential elections, in April 2021, the dollar showed a steady rise until October, when it came to cost S/ 4.14. Then, following the change of the chairman of the council of ministers, Guido Bellido, the US currency fell to 3.92, but again began a slight rise until the beginning of December, when the first vacancy motion against President Pedro Castillo was dismissed.

Since then, the dollar has been falling day after day to reach S/3.70 on March 10. However, during the weeks that Pedro Castillo's presidential vacancy in Congress was discussed again, it had a slight increase (S/3.79) until this was archived. This latest decline in the US currency also coincides with the Peruvian national football team's qualification for the repechage.

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