Price of the dollar in Peru: how much is the exchange rate quoted today, Tuesday, April 23?

47

Price of the dollar in Peru closed higher today, Tuesday, April 23. Photo: composition Infobae/Aarón Ramos

The price of the US dollar closed the exchange session today, Tuesday, April 23, with an increase of S/3.7090, according to the Central Bank of Peru (BCRP). This amount represents a growth of 0.27% compared to the S/3.6990 of the session recorded yesterday Monday by the issuing entity.

According to the page how much is the dollar, today Tuesday, April 23, the price of the currency is S/3,685 for purchase and S/3,710 for sale. According to Bloomberg, the exchange rate opened the exchange session lower today at S/3.6886.

Dollar in Peru closed higher for the second consecutive day. Photo: BCRSo the exchange rate opened today, Tuesday

If we consider the data from the last seven days, the US dollar shows a decrease of 1.22% and in the last year it still maintains a decrease of 0.34%. Analyzing this data with that of previous days, it breaks the negative streak of market prices of the last three days. Regarding the volatility of the last few days, it presents a clearly higher behavior than the volatility shown by the figures from the last year, therefore it is going through a phase of instability.

Price of the dollar today. Photo: capture Bloomberg.

Banco de Crédito del Perú (BCP)

• Purchase: S/3,639
• Sale: S/3,725

Scotiabank

• Purchase: S/3,605
• Sale: S/3,778

National bank

• Purchase: S/3,626
• Sale: S/3.7600

Interbank

• Purchase: S/3,630
• Sale: S/3,775

Dollar in parallel market is S/3.70. Photo: Andina/Vidal Tarqui

The price of the greenback in the parallel market or exchange houses is S/3.70, while at the counters of the main banks it is quoted on average at S/3.80.

After 2023 considered one of the worst years for the Peruvian economy, this year the conditions seem to be in place for it to be a 2024 of recovery, after the El Niño Phenomenon (FEN) weakens. According to the latest report from the INEI, the Peruvian economy registered a growth of 2.85% in February, the highest rate in a year and a half.

The government’s estimate is to reach a growth in the Gross Domestic Product (GDP) of at least 3%; The same estimate is from the Central Reserve Bank.

Despite the political crisis that Peru is currently experiencing and against all odds, the economy of this country boasts of being one of the most stable in the Latin American region, because while other currencies have experienced fluctuations, the Peruvian sol has strengthened.

The coronavirus pandemic generated a series of negative economic effects worldwide – such as inflation – which, also combined with Russia’s invasion of Ukraine and local monetary policy decisions, have been weakening the dollar.

However, the Peruvian currency has shown resilience to these events and has strengthened against the greenback and the euro. If the positive factors that have supported the sun in recent months continue, the currency could continue with the same streak in the coming months and even years.

The Peruvian sol is one of the most stable currencies today.(Reuters)

The resistance of the Peruvian sol in the face of other adversities that have managed to hit other currencies has made it become a “safe haven currency”, especially in countries where dollars have been scarce, as is the case of Bolivia.

Although economic analysts have reduced their growth expectations for the Peruvian sol for the next two years, it is nevertheless expected that macroeconomic balances will continue to support the sun.

The sol has been the legal currency in Peru since 1991 and replaced the inti, which circulated between 1985 and 1991. At first it was also called “new sol” to differentiate it from its predecessor, but in 2015 it was called only sun.

The origin of the new sun is understood after the world crisis of 1929, which led to a deep economic and exchange crisis in the country, as well as the creation of the Central Reserve Bank of Peru. It was during the first year of Alberto Fujimori’s government that the Nuevo Sol was promoted to balance hyperinflation and reorganize the economy.

After it came into effect, one sol was equivalent to one million intis or one billion “old” sols; Today the currency is divided into 100 cents and its issuance is regulated by the Central Reserve Bank of Peru.

Currently, coins of 10, 20, 50 cents, 1, 2 and 5 soles and bills of 10, 20, 50, 100 and 200 soles are in circulation. Previously, 1 cent coins were also minted, but these were withdrawn from circulation in May 2011, while in January 2019 the 5 cent coins went out of circulation.