June 28, 2022

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The price of the dollar: this was the development of the American currency in the government of Pedro Castillo

The price of the dollar: this was the development of the American currency in the government of Pedro Castillo

FILE PHOTO: A banker calculates currency at a bank in Westminster, Colorado, on November 3, 2009. REUTERS/Rick Wilking/File Photo

The dollar price It has been one of my biggest concerns ever since Pedro Castillo He assumed the presidency on July 28 last. Although external factors did not help – read the actions of the US Federal Reserve (FED) and the crisis of the Chinese construction company Evergrande-, The green currency has variations in line with local events.

But how has it performed in these three months or so? According to data from Central Reserve Bank, are 10 historical boundaries recorded in this period with free peru in the presidency. The exchange rate The dollar moved between S/3.95 and S/4.138. It should be noted that on July 27, one day before Castillo was sworn in as president, the dollar was trading at 3,928 c. And on July 30 it commissioned S/4.07.

in August, Dollar Exceeded S/4.11 Before the Council of Ministers headed by Guido Peledo requested a vote of confidence. At the end of September, the currency Ascends to S/4.13 when the question to the Minister of Labour, Iber Maravi, was frightened. On October 6, the dollar reached an all-time high (4138 S/).

On October 13, when Peledo’s departure was announced, the dollar began to fall. On that day it was down 1.6%. However, two major milestones later generated its recovery: the president’s statements regarding the nationalization of Camicia, and the recent mining protests.

that it Wednesday, November 3, the dollar closed at S/4,014 in the exchange market. While buying in the parallel market was S/3.98 and selling S/4.03.

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So far in 2021, the dollar is up 10.8% against the sun, according to BCR data. In addition, the financial institution had to intervene several times to avoid currency fluctuations. So far this year it is worth $15,929 million, of which $5,032 is in the Peruvian Liberal government.

Julio Villard certified by BCR

The Head of the Judiciary, Elvia Barrios, was sworn in last Tuesday as Chair of the Board of Directors of the Central Reserve Bank (BCR), Giulio Velardi Floresand new directors Roxana Barantes Caceres, Jose Tavara Martin and German Alarco Tosoni, who will hold their posts for five years.

The official disposal was held in the department hall at the National Palace of Justice, in the presence of the Minister of Economy and Finance, A.Edro Frank, taking into account personal biosecurity elements, such as the use of a double mask, face shield, metering and physical distancing.

It should be remembered that on October 8, the executive branch formally appointed economist Julio Velarde as head of the BCR, during which he will assume his fourth consecutive term as head of the issuer.

same day Roxana Barantes, Jose Tavara and German Alarco have also been appointed as new members of the BCR Board of Directors, who replaced Javier Escobal D’Angelo, Luis Palomino Bonilla and Gustavo Yamada Fukusaki.

According to Article 86 of the Political Constitution of Peru, the executive branch has the right to appoint four members to the Board of Directors of the Central Reserve Bank, which consists of seven members.

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The other three directors must be appointed by the Congress of the Republic to complete the new composition of the BCR Board of Directors.

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