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Saturday, March 25, 2023

The dollar rose 0.62% and was located above the floor of $39

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The last operation of the day in the Electronic Stock Exchange of Uruguay (Bevsa), was agreed in 39,260 pesos, while the average price of operations was 39,137 pesos. On this Thursday, the number of transactions was a total of 28with an amount of operations that added $15.8 million.

Exchange rate: decline of -2.33% so far this year

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Yesterday, on the first exchange day of the month, the dollar remained stable and registered a slight increase of just 0.01%. Meanwhile, today’s rise was the first noticeable change in Marchwhich between its first two days accumulates a rise of 0.62% However, it was enough to overcome the “floor” of 39 pesos, in which the exchange rate falters and goes through intermittently.

The currency comes from a high in the first half of February that generated the expectation of an eventual neutralization of the decrease of -3.29% in January, but the abrupt drop in recent weeks left it in the 38-peso range and with a positive close of just 0.55% last month.

Last week, in just two exchange days, the dollar sank -1.9%, a setback that squandered all the accumulated increase that February had been showing.

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With these numbers, so far in 2023 the foreign currency accumulates a negative balance of -2.33%. Meanwhile, compared to March 2, it showed a positive monthly variation of 1.46%.

Compared to the same day but last year –March 2, 2022–, when the exchange rate was 42,715 pesos, the year-on-year variation was -8.37%.

This last variable fell sharply in recent weeks, mainly because, by then, the dollar had already begun to fall after reaching the all-time highs it had registered in the early days of last year.

Source: Ambito

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