Analysis of the Exchange Rate in Peru Between January 2020 and December 2021

Abstract

Various events can affect a country's exchange rate. In the period between 2020 and 2021, Peru experienced the severe effects of the COVID-19 pandemic, as well as political instability. This article has two objectives: first, to explore what was the average monthly exchange rate (sale) in Peru between January 2020 and December 2021; second, to determine if there is any significant trend in the data shown for that period. The research presented a quantitative approach, descriptive level, non-experimental design and retrospective cross-sectional cut. The technique was documentary review and the instrument was the registration form. The data provided by the Central Reserve Bank of Peru (Monthly average bank exchange rate -sale-) were explored. As a result, it was found that the lowest value was recorded in January 2020 (S/3,329), while the highest value was recorded in September 2021 (S/4,111). In addition, the result of the Mann-Kendall trend statistical test resulted in a p. value of < 0.0001, thus there is a significant trend in the average monthly exchange rate (sale) in Peru between January 2020 and December 2021.

Received: 21 February 2023 / Accepted: 23 July 2023 / Published: 5 September 2023