After registering a record price of S / 4.13 on September 30, USD it has started to fall in the foreign exchange market in recent days. Faced with this new scenario, what will be the exchange rate trend in the short term? What can we do to keep expenses in order?
For Patricia Lengua, a professor at the Faculty of Economics of the UPC, the fall in the exchange rate is “transient” and occurs after the political uncertainty disappeared due to the changes in the cabinet.
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“That is the effect of the message of moderation given by the change of the cabinet of ministers.” However, if you see the whole photo, not all messages are clear. There is still a risk that the rules of the game in the economy could change. “said the teacher.
One factor that may again cause nervousness in the markets is the idea of a Constituent Assembly. “Probably, as long as the new cabinet is not doing anything these days that would disrupt the trend [del tipo de cambio] it could be downward, but it is not known why other conflicts could arise when trust is sought in Congress. The message is not entirely clear. Those are my perspectives, at least in the short term. “, Was held.
Lengua also mentioned that at the international level, the withdrawal of monetary incentives by central banks, as well as the energy crisis, are causing the loss of the dollar. “This new information with these external factors has made the trend intensify downwards”, he indicated.
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Order, the key to profit from expenses
When the dollar rises, it affects many products from the basic basket. This is due to the fact that some of them are imported directly, while others import inputs for their production. Even those who do not belong to either of these two groups need fuel to transport to the store, and oil is paid for in dollars.
According to the professor at Pacifico Business School, Jorge Carrillo Acosta, the growth of the exchange rate affected a number of daily expenses such as debts, rents, insurance that are paid in dollars. It also increased the costs of medicines, auto parts, fuel, cargo, among other things.
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For this reason, the finance expert considered that, although the dollar is now below S / 4, it is important to order costs and follow some recommendations so that they are not affected by exchange rate instability.
“The first thing is to get organized when managing a family or personal budget. Prioritizing costs is a good recommendation not to overdo it. Today, it is crucial to take care of every sun we have. “, he indicated.
Shopping lists are a useful and easy technique to adopt. The trick is to fully respect it and avoid impulsive purchases.
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Another option is to shop in a group for a month. For example, gather between 10 people and instead of buying a few kilograms of sugar, find the whole bag and share it. Simply put, buy in bulk to reduce costs. Another possibility is “private labels”, which are the own brands of each store.
“In the case of supermarkets, there has been an increase in ‘private labels’. People are trying to save on that side, trying with “white marks” and seeing how to save. “He explained.
Finally, Carrillo suggested saving on water and electricity consumption by simple measures, such as unplugging the appliance at night or turning off the tap when not in use.
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