Buying and selling dollars: What to do when the situation hits its price?

But what to do if you are thinking of buying dollars? Or are you already in the process of buying and the situation is impacted by incidents and hits its price?

“Faced with such a changing situation, it is inevitable that exceptional cases will arise, however, it is important to be clear about our objectives, the reason for the purchase and our economy of course. In this way, we will be able to make a more sensible decision and according to our reality ”, commented the CEO of Securex Peru, Edson Campaña.

In this context, the specialist answers the questions common questions that users consider when buying dollars in a complex political context.

1. Should I be alarmed at the notorious rise in the dollar? Before we worry, let’s stay calm. Let us remember that we are in a new government so changes are part of our daily bread, however, let us constantly review what the platforms for buying and selling dollars say and see their latest movements.

“If the dollar continues to rise, it will not reach such high peaks, because there is still confidence in our local currency and this can be confirmed by the number of accounts and debts in soles,” said Campaña .

2. How fast will it affect the exchange rate? The effect is immediate and it does not matter if it is morning or afternoon. The situation is definitely one of the weighty elements in the foreign exchange market, so it is important to always be alert to the Peruvian context.

3. Buy or wait? To buy or sell dollars at a good price, it is necessary to be on the lookout and see the latest movements in the previous days. If you are about to buy and something unforeseen happens, it is recommended to take a break and wait a bit.

Most likely, the dollar will go down and will probably continue to do so in the coming days. However, in case there is an emergency involved, do not hesitate to buy because having dollars is always necessary.

“It is not recommended to buy in dollars if you will sacrifice your personal savings, the idea is that dollars represent an improvement, not the opposite,” adds the specialist.

4. What time is the best time to buy dollars? In the world of currencies there is a well-known term, that of the exchange market. As long as it is open, usually between 9 a.m. and 1 p.m. Monday through Friday, you can make transactions.

“We recommend carrying out these operations before closing time, as a stable price will be found. Many times it happens that, after the aforementioned hours, the exchange rate varied, ”said Campaña.

5. How to choose a secure platform for currency exchange? The market offers us various digital alternatives for buying and selling dollars. However, some elements must be taken into account when sharing our information.

With these recommendations, users will be able to make the best decisions according to their needs. In addition, they will be able to learn much more about the currency market the importance of making quality transactions in dollars safely.

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– Andean Agency (@Agency_Andina) October 8, 2021