The United States dollar closed at 3.3660 Peruvian soles on Tuesday, September 22, after opening the trading session at 3.3565 soles, according to figures published by the Central Reserve Bank of Peru.
The interbank exchange rate finished the session with an average value of 3.3593 soles. Across the day, the interbank rate reached a maximum value of 3.3660 soles and recorded a minimum of 3.3560 soles.
Peru is a South American nation that uses the Peruvian sol as its official currency. The Central Reserve Bank of Peru functions as the country's central monetary authority, responsible for preserving monetary stability, executing monetary policy, and publishing official national exchange rates.
Informal Trading and the Ocona Dollar
Beyond traditional banking networks, currency exchange in the country includes an informal parallel market commonly referred to as the street dollar or dollar Ocoña. Banking group BBVA explained that this informal rate applies to transactions conducted through street money changers and private exchange houses.
Jirón Ocoña is a historic street in central Lima that became synonymous with street-level foreign exchange trading. According to BBVA, Jirón Ocoña and the dollar Ocoña designation continue to serve as recognized reference points for parallel market transactions involving the buying and selling of United States dollars.
Official Monitoring and Price Drivers
For official financial reporting, the daily closing exchange rate is published on the official website of the Superintendencia de Banca, Seguros y AFP. The regulatory organization oversees Peru's banking sector, insurance companies, and private pension fund administrators.
Transactions across both formal and informal markets rely on a distinction between purchase and sale prices. The purchase price is defined as the amount a buyer is willing to pay to acquire the asset, whereas the sale price is the amount a seller is willing to receive to sell it.
The overall valuation of the dollar relative to the sol is determined by market supply and demand. The price fluctuates based on how difficult it is for buyers who require dollars to obtain them, and how easily existing holders can sell their currency.
