The dollar volatility it affects everyone, but not equally. This is because the rise in foreign currency will always affect more those who have income or savings in soles and debts or obligations to pay in dollars.
In this context, the general manager of Billex, Javier Pineda, offers four recommendations to take care of the money from the volatility of the exchange rate.
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1. Because usually one saves thinking in the medium or long term, The first thing to consider is the time horizon during which you plan to save.
“The currency in which you must save will depend on the expectations of what you want to do. That is to say, if you have to buy an asset that is priced in dollars, you should save in dollars; If you have to buy an asset in soles, it is suggested that you save in soles ”, explains Pineda.
2. It is good to have a few dollars in your savings or investment portfolio because normally this is a much more solid currency than the sun, therefore it is important to always have a percentage of savings in dollars.
“The percentage of this saving will depend on what the person has as an expectation. If in the future you plan to make a purchase of an asset such as a department or a productive asset that is in dollars, then you have to save in that currency. In the same way, if you plan to buy an asset in soles, you should save or maintain your savings in soles ”, he says.
3. Pineda too recommends not speculating, thinking that the dollar will maintain its upward trend. “It’s the worst thing they could do. One saves thinking in the medium and long term and save knowing that you have to buy some dollars (it is always good to have it) and the percentage will depend a little on the long-term expectations ”.
Four. Another suggestion is when to buy. “What can be done to hedge against volatility if you have the need to buy dollars, is buy them during the morning, from 9 am to 1 pm, which is the time range where better exchange prices are obtained than in the afternoon ”, recommends Pineda.
Finally, suggest to monitor how the exchange market is doing in real time through platforms such as Billex, which allow “to have a better follow-up on the best exchange rate at the moment.”
