The exchange difference between Uruguay and Argentina continues to increase and the Ministry of Tourism is concerned about a new increase in the dollar of the neighboring country, which not only disadvantages the Uruguayan coastal market, but is also projected as a negative factor for tourism in all the country.
Between Monday and Tuesday, the blue dollar skyrocketed in Argentina, reaching a new all-time high of 730 Argentine pesos for sale, after the Primary, Open, Simultaneous and Mandatory (PASO) elections took place, where the winner was the far-right Javier Milei, and after the Central Bank validated a devaluation of the official exchange rate of 22%.
This jump in the informal Argentine dollar represents a new impact for the country’s coast, where merchants already suffered a price difference of up to 7 to 1. As well as the convenience of payment for Uruguayans, due to the fact that the MEP dollar ( legal financial contribution that foreign tourists can access through card payments) reached 672.82 Argentine pesos.
The increase in the value of parallel dollars in Argentina means an even bigger exchange gap between the two countries, which means a widening of the relative difference in prices, mainly affecting the Uruguayan coastal market.
In dialogue with El País, the Minister of Tourism, Tabaré Viera, assured that he is concerned about the situation since “they are not only attractive prices for Uruguayans who leave the country and who are going to spend there, but also make Uruguay more expensive with respect to to the Argentine market.
On the other hand, the minister assured that measures are being taken to lower fuel prices in the border areas, although they are decisions that are still not enough to equalize relative prices.
Regarding the arrival of Argentines in Uruguay, a factor that could be affected by the devaluation of the neighboring country’s peso, the minister assured that he is not so concerned since many decide to vacation in Uruguay beyond how expensive it may be for them. .
Although he clarified that they are also targeting other markets, such as Brazil, so as not to depend exclusively on the Argentine market.
Source: Ambito
