After the protests throughout the country and the message to the nation of the president Dina Boluartethe price of the dollar closed yesterday at S/3.86, which means an appreciation of 0.44% compared to the previous day (S/3.84).
With this behavior, the currency accumulates an upward variation of 1.39% so far in 2023, according to the Central Reserve Bank (BCR).
Despite the fact that today, Friday, January 20, the exchange rate closed slightly downward, from S/3,860 to S/3,859, it is important to understand the factors that have produced this significant rise.
Renzo Massa, Prima AFP Fixed Income manager, in conversation with El Comercio, explained that there are two local factors that are affecting the exchange rate.
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“One is the technical factor: there are important maturities of ‘swaps’ from the BCR. When you stop renewing them, it’s like buying dollars. The other factor has to do with the political-social part, which has increased in recent days due to the protests.”, he asserted.
Yesterday’s day was strongly marked by the demand for dollars by non-residents, given a greater aversion to risk.
According to Massa, if it were due to external factors, the exchange rate should have another trend.
“If it were due to external factors, I would say that the exchange rate should be devalued. It should be more towards S/3.75 because you have very positive terms of trade for the price of raw materials”, he stressed.
