The financial market did not start the week in the best way. On the one hand, the Lima Stock Exchange (BVL) fell 4.36%, and the dollar rose to its highest value in two months.
This occurred after the Executive presented the bill to submit to a referendum the call for the constituent Assemblyfor the purpose of changing the Constitution.
For Mario Guerrero of Scotiabank, said announcement, added to the possibility that China will grow less, and that the United States will increase its interest rate, had an impact on the stock and foreign exchange markets.
“We have an international impact and these issues that make political noise at the local level generate these types of results in the markets. In our country everything came together in the same direction”, he assured.
In the case of the BVL, whose General Index fell 4.36%, and the Selective fell 4.02%, Guerrero indicated that the most affected actions were mining.
“The internal noises are setting a pattern, a trend, so we will probably continue to see the Stock Market fall in the coming days, although probably to a lesser extent,” he added.
Rising exchange rate
The dollar has also been impacted by the aforementioned factors. The exchange rate it closed at S/3,806, its highest level in a little over two months.
To avoid volatility, the Central Reserve Bank intervened with the sale of US$241 million. Economist Juan Carlos Odar indicated that it is not ruled out that, as a result of internal and external factors, the greenback will once again exceed the S/4 barrier. In addition, he assured that local pressures explained 60% of the depreciation of the sol yesterday.
Data
-The dollar accumulates a decline of 4.63% so far this year, according to data from the Central Reserve Bank.
-Yesterday, 999 operations were generated in the Lima Stock Exchange.
