Dollar Reaches Lowest Level Since 2016, Closing at S/ 3.46
LIMA, Peru – The U.S. dollar experienced continued decline in Peru, closing today at S/ 3.46, a rate not seen since March 2016, according to the Central Reserve Bank of Peru (BCRP). Online exchange houses are currently offering the dollar for sale at an average of S/ 3.47.
This significant drop in the exchange rate impacts importers, who will find goods priced in dollars more affordable, and potentially signals a period of reduced inflationary pressure for consumers. The downward trend reflects a combination of international factors and domestic economic signals, suggesting a shift in market sentiment regarding the stability of the Peruvian Sol. Experts anticipate continued monitoring of U.S. economic data for further clues about the dollar’s trajectory.
Today’s closing price of S/ 3.4640 represents a decrease from Thursday’s rate of S/ 3.4760. Throughout the day, the dollar fluctuated between a high of S/ 3.4730 and a low of S/ 3.4580, with a total of 320 million dollars negotiated at an average rate of S/ 3.4648.
Internationally, the dollar is facing headwinds, experiencing its worst week as July.Uncertainty surrounding a potential U.S. government shutdown has limited the release of key economic data, contributing to market calm. The Japanese Yen also saw a slight retreat following strong profits and a more cautious stance from Bank of Japan Governor Kazuo Ueda regarding global risks, tempering expectations of near-term interest rate hikes.
Contributing to the dollar’s decline,weak labor data and falling private payrolls in the United States are reinforcing expectations that the Federal Reserve will pause interest rate increases twice this year – in October and potentially December,according to Jesús Flores Ríos,Commercial Manager of Intermediation of Currency for rent4 SAB.
