In the foreign exchange market, the sun has tended to fall in value while the dollar has tended to rise, thus reaching a peak that does not seem to want to fall below 4 soles. One of the reasons this has happened is because there is still political noise in Peru, leading to the withdrawal of funds from investors or the exchange of large sums of soles for dollars.
In the midst of the rise in the US currency, those who have debts in this currency have begun to worry. And it is that the majority receive their income in soles; so they must pay more soles for each dollar they need to fulfill their responsibilities in this currency.
If this is your case, in this publication we share some tips that will help you avoid this problem affecting your personal finances.
Avoid falling into speculation about the price of the dollar
The dollar is a volatile currency that changes its value day by day, so no one can say for sure how much it will be worth between now and the end of the month and less by the end of the year. For this reason, even when there is a forecast, one should not speculate on its rise; instead, it is better to be aware of the foreign exchange market day after day, to make decisions based on real information.
Buy dollars in advance
Another tip we give you is to buy the dollars that you must pay for your debt in advance. Ideally, you should wait for the best exchange rate to be offered. Something you can do is to monitor the exchange market, before your payment date, in order to buy dollars at the best time, taking into account the exchange rate of the previous days.
Spend your debt to soles
Finally, we also advise you to change your debt from dollars to soles, so that in that way you can pay your monthly payments in the same currency in which you receive your income.
AlDía helps you get out of your debts
If you have already presented delays in the payment of your debts in dollars and you need financial advice to help you get out of this problem, we tell you that at alDía we have a program that will help you. Is about My board, thanks to which we group more people (with the same problem as you) to save monthly to a protected account and generate an individual fund; With this fund at alDía we can negotiate better payment conditions so that you can pay off your debt in a few months. Contact us for more information!