He us dollar price in Peru closed higher at the end of the day this week, due to a greater aversion to risk assets in the face of renewed fears regarding the health of the world banking system that boosted the greenback.
In this context, the exchange rate The session ended this Friday, March 24, at S/ 3.7740 per dollar, registering a 0.13% rise compared to the close of Thursday when it was quoted at S/ 3.7690, according to updated data from the Central Reserve Bank (BCR) of Peru.
So far this year, the green ticket accumulates an advance of 0.87% compared to the last price of 2022, at S/ 3,807. Likewise, today (Friday), USD 245 million was traded in the market at an average price of S/ 3.7707.
Also, the price of us currency in the parallel market or exchange houses it is S/ 3.79, while in the windows of the main banks of Peru It is quoted on average at S/ 3.86.
It should be noted that this dollar price it will remain in that range until the next day at 09:00 am next Monday when the exchange market in Peru starts again.
He BBVA Research in your report on the economic situation of Peru projected that the exchange rate It will be between S/ 3.90 and S/ 4.00 per USD at the end of 2023, perhaps closer to the lower end of that range.
In this sense, the entity considers that the peruvian sol will tend to depreciate in the coming months due to an increase in the global risk aversion when the larger economies show a more marked slowdown and a decrease in the spread of interest rates between soles and dollars.
In that sense, the Central Reserve Bank of Peru the bullish cycle of its policy rate and would begin to normalize it from the fourth quarter of this year, while the fed it will raise its rate even more and would not cut it in 2023.
Next year, with the global economy rebounding, the current account deficit of the balance of payments receding, and with the assumption that the incoming government administration in 2024 will be favorable for entrepreneurship, business and job creation, the Peruvian currency will strengthen and the exchange rate would close that year between S/ 3.85 and S/ 3.95 per USD , even though the interest rate differential would narrow further.
When asked, in what currency is it better to save in Peru? Giuliana Delgado Vidarte, Mapfre Securities analystindicated that the profitability of saving in dollars is subject to the US currency price. “It is advisable to save in soles since the profitability of savings in foreign currency is based on the exchange rate,” he said.
Likewise, the expert specified that when saving in dollars there is a risk that at any moment the exchange rate start to go down and it can generate losses, that is why it is advisable to have savings in soles”, explained Delgado.
Despite this, he argues that if the dollar is down, he can buy a certain amount to save, hoping that in a future increases in value. “It is recommended that the percentage of savings in dollars not exceed 40% of our total savings, hoping that in the future the value of foreign currency will increase and there we can change it to soles, thus gaining some profitability,” said the economist.
This Friday, March 24, the exchange rate registered a new exchange session. In the previous operating session, on Thursday, March 23, the dollar price closed lower and stood at S/3,769, reported the Central Reserve Bank. Previously, on Wednesday, March 22, it had been quoted at S/3,771.
In the previous week, from Thursday March 16 to Thursday March 23, the dollar It maintained its downward trend, after starting it at S/3,786 and closing it at S/3,768.
In the last month, from March 23 to today’s date, the exchange rate shows a downward trend.
Its maximum level was on February 24, when it stood at S/3,821, and since then it has been falling back to S/3,769 on Thursday, March 23. Precisely, this has been its lowest level during this period.
He dollar price started the year at S/3,806. After reaching a maximum of S/3,896 in the exchange session on January 24, the exchange rate has been falling, although presenting some volatility.
There are different channels to switch Dollars to Suns. This transaction can be done both physically and virtually.
One of the best-known physical places are the exchange houses, where the Jiron Ocoñalocated near the Union streetin the Center of Lima.
However, there are also a number of digital platforms that, in a matter of minutes, allow you to change your Dollars to Suns and vice versa.
Banks are also another physical and, in turn, virtual option, since they make their own platforms available to users to carry out these operations.
In 2022, the exchange market in the country was marked by high uncertainty. Despite this, the exchange rate, that is, the value of the dollar against the sol, showed a fall, which meant an appreciation of the Peruvian currency with respect to the United States.
In a report, the Peruvian Institute of Economics (IPE) reported that, in 2022, the exchange rate started at S/3.98, the highest opening value for a year since 1991, when the Peruvian sol began to be used. However, the price of the dollar closed at S/3.81, 4.2% below its value at the end of 2021.
In addition, during 2022, the Peruvian sol ranked as one of the best performing currencies in the region. He sun it appreciated against the dollar by 4.2%, while an opposite situation occurred with other neighboring currencies, such as the Chilean and Colombian pesos, which depreciated by 8% and 20% of their value, respectively.
