This Tuesday, the US currency is trading at 40.20 pesos according to the Republic Bank (BROU) after he managed to return to the 39-peso range on Monday after last week’s collapse. Yesterday it closed at 39,037 pesos (+ 0.7% compared to Friday), according to the official price of the interbank Central Bank of Uruguay (BCU).
Last week, after the holidays of Carnivalthe dollar had a strong fall in which in two exchange days it sank 1.9%, squandering all the accumulated increase of the three previous weeks.
So far in February, the currency accumulates an increase of 0.92%, an upward trend that generated expectations about the possibility of neutralizing the sharp drop of 3.29% in January and leaving a positive balance for the year accumulated .
But with last week’s setback, that scenario has moved away. To do this, this day the price of the dollar should close with an increase of 1.03 dollars, something unlikely.
Compared to January 27, the US currency showed a positive monthly variation of 1.07%. However, so far this year it has accumulated a decline of 2.58%.
Last week, the president of the BCU, Diego Labatassured that there is “a some misalignment of the fundamentals” of the exchange rate, which placed around 8% or 9%. “One would expect that over the months that misalignment would recover,” he acknowledged.
Although he clarified that, although they expect this trend, “what happens with the exchange rate is going to be what emerges from the market”, given that there is a free floating regimeof which he highlighted its “virtues”.
Source: Ambito
