This is the behavior of the US currency during the last minutes of the day in Peru.
The price of the US dollar in Peru closed with a slight drop during the day this Friday, after clashes between protesters and law enforcement officers arose on the second day of nationwide protests.
Given this scenario, the exchange rate ended the day of this Friday, January 20, at S/ 3.8590 per dollar, registering a decrease of 0.03% compared to the close of Thursday when it was quoted at S/ 3.8600, according to the Central Reserve Bank of the Peru (BCR).
So far this year, the greenback accumulates an appreciation of 1.37% compared to the last price of 2022, at S/ 3,807. Likewise, today (Friday), USD 380 million was traded in the market at an average price of S/ 3.8543.
The price of the US currency in the parallel market or exchange houses is S/ 3.86, while in the windows of the main banks in Peru it is quoted on average at S/ 3.94.
Exchange Market Information – BCR
At the local level, this Friday, for the second consecutive day, the mobilizations continued to be registered in the Center of Lima. The demonstrators gathered in the Plaza San Martín, within the framework of the marches calling for the resignation of President Dina Boluarte, as well as the closure of Congress and the advancement of Elections.
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These mobilizations were also replicated in southern cities such as Arequipa, Puno and Cusco. In the ‘White City’, a group of demonstrators tried to take over the city’s airport, however, they were withdrawn by the National Police. While airport unions in Peru reported that 58 thousand passengers affected by airport closures this year.
The exchange rate would be fluctuating between S/ 3.80 to S/ 3.95, according to the Central Reserve Bank of Peru.
At a global level, most of the currencies and stock markets of Latin America registered gains this Friday due to a greater appetite of investors for risky assets, given the hopes of an improvement in the global economy after the opening of some markets. in China, Reuters reported.
However, the promise of central banks to continue raising interest rates to contain inflation and concerns about an economic slowdown in the United States put a brake on the advance of the markets.
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Also, Reuters reported that a wave of US data on Thursday indicated the world’s biggest economy is slowing after multiple rate hikes by the Fed. Money markets show that traders are preparing for the end of rate hikes by mid-year.
Although it is true that the price of the dollar in Peru is more stable than in other countries in the world, there are temporary variations that make you wonder: in what type of currency should I take out a credit or loan?
In this sense, the manager of Corporate Services of the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac), John Sarmiento, told Agencia Andina that through a loan, a financial entity provides an amount of money agreed by contract to a person or company, for which the debtor is required to pay interest.
The US dollar appreciates in Peru at the beginning of this month of January.
Therefore, you know that requesting a loan is a responsibility that you must assume with great caution and discipline to pay. Therefore, if you do not have periodic income, it is not advisable to ask for a loan since you are not sure of being able to pay the monthly fee and you could end up getting much more in debt.
However, the expert pointed out that if the person is aware of this responsibility, then it is time to decide in what type of currency he will receive the loan. “What has worked well for people is borrowing in the currency that one perceives as salary or earnings,” he added.
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If you receive your income in soles, you should take out a loan in soles, because that is aligned with the breakdown of your monthly expenses. And if you earn in dollars, the same thing should also happen,” said John Sarmiento.
The expert maintains that, in this way, you minimize the probability that you will not be able to pay it due to the exchange risk that the dollar may present, for example, in the current scenario where the foreign currency is quite sensitive to the political environment.
“When you borrow in a currency other than the one in which you receive your income, the impact can be very large, as happened in 2021 with the strong variation in the value of the dollar. You could even be paying up to 10% of the credit you initially obtained, if the exchange rate is applied when you earn in soles, but pay your credit in dollars”, explained the executive.
“But this not only happens to people, but also to companies when they borrow in dollars,” he added. In this sense, Sarmiento affirmed that if you opt for a loan in soles, you are taking care of your economy without taking risks that are out of your hands.
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