The price of the dollar closed at S/3,745 in today’s sessionwhich implied a decrease of 0.08% compared to Friday’s close, when it ended at S/3.7480.
Fabiola Gutiérrez, currency trader at Renta4 SAB, said that the exchange market was volatile during the day, associated with the statements made by the president of the FED, Jeremo Powel, on inflation in the US last week.
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This volatility led the greenback to trade at a minimum level of S/3.743 and a maximum of S/3.76, in a session in which US$220 million were traded at an average price of S/3.7545.
“The dollar’s volatility came after Fed Chairman Jerome Powell’s statement at the Jackson Hole symposium last Friday, in which he mentioned that the risk of rising inflation has decreased and economic results are providing the right outlook for adjusting monetary policy,” Gutiérrez said.
The next Fed meeting is scheduled for September 18, and consensus estimates suggest a 30% chance of a 50 basis point interest rate hike.
Less volatile
With the closing of the exchange rate in today’s session, the Peruvian currency is consolidated as the least volatile in the region. For example, when comparing the dollar’s price with the closing of last July, the currency rose 0.4% in Peru, 4.14% in Mexico and 1.98% in Argentina. In contrast, during the same period, it fell 2.68% in Brazil, 3.86% in Chile and 1.03% in Colombia.
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