He dollar rose 0.71% compared to Wednesday and closed at 40.599 pesos, according to the interbank quote. Central Bank of Uruguay, (BCU) reaching a new maximum value so far this year and adding its fourth consecutive day of rise.
The increase on Thursday is due to a bullish rally of the greenback, which has accumulated an increase of 3.13% so far this month and is heading towards its fifth consecutive month with gains in the local market, while the appreciation of the dollar In the annual accumulation it reaches 6.60%.
On the reference board of the Republic Bank (BROU), he dollar The retail bill was offered at 40.40 pesos for purchase and 42.80 pesos for sale. For its part, the preferential value of the eBROU Dollar It was at 40.90 pesos for purchase and 42.30 pesos for sale.
The closing price in the Electronic Stock Exchange of Uruguay (Bevsa) was 41,600 pesos, while the maximum price was 41,700 pesos, and the minimum was 41,350 pesos. A total of 49 transactions were made, with a transaction amount of almost 25 million dollars.
Crypto Tether (USDT)1 to 1 parity with the dollarwas quoted today at an average of 44.83 pesos for online purchases with a bank account or card, and from 42.40 pesos to 45.45 pesos in the Binance peer-to-peer (P2P) market.
Uncertainty over PIT-CNT plebiscite boosts dollar
He plebiscite on social security that drives the PIT-CNT is one of the main factors behind the escalation of dollar before the Uruguayan peso, due to the uncertainty generated in investors by the eventual approval of the popular consultation during the elections 2024.
CPA Ferrere’s Economic Analysis Manager, Nicholas Cichevski, He explained in dialogue with Scope that “the dynamics of the exchange rate in Uruguay is influenced by domestic factors, focusing on the uncertainty due to the plebiscite that “validates a more expensive exchange rate.” “This explains why it has not weakened despite what is happening globally and why we are seeing a strong increase in the number of amounts traded,” he said.
In that sense, the Director of Urraburu e Hijos Stockbroker and President of the Montevideo Stock Exchange (BVM), Ángel Urraburu, He said that, apart from the repeal of the social security reform, “there are no elements in the market that make one think that the dollar has to be worth more on its own merits.”
Urraburu pointed to the big investors, more than savers. “They take on a very high percentage of debt and they are the ones who are nervous and worried about how the polls are going. If that plebiscite turns out in favor, it could be devastating and they perceive it with that degree of seriousness,” he said in statements to Ámbito.
The dollar in recent days
- September 12 — 41,071
- September 13 — 40,767
- September 16 — 40,956
- September 17 — 41,063
- September 18 — 41,307
Source: Ambito
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