The exchange rate delay of the last few months questioned the US currency as a store of value against local instruments.
The current exchange rate delay that it is going through Uruguayand the imminent announcement of what the United States Federal Reserve with the interest rate, all this within an international financial situation that navigates in uncertainty due to the collapse of some international banks, have jeopardized the traditional bet of savers in the purchase of the North American currency as a refuge of value, more even when, in a comparison, in recent years the instruments in Uruguayan pesos have returned higher yields.
It is at this point that we ask ourselves, what should be invested in, Dollars either Indexed Units (UI)? It may be time for some to consider the local financial instruments themselves as a safe haven against external movements, as a long-term alternative to the reflex action of buying dollars shown by traditional savers in times of doubt.
Yield comparison
From the first business day of the year, January 2when the dollar traded at 39,795 pesosthe variation has been of -0.751% up to 39,496 pesos at the close of the day of March 17, and -1.435% from the last closing of 2022 (December 30) to 40,071 pesos. Therefore, those who bought dollars as coverage on those dates have lost capital so far this year. In addition, the setback from January 3, 2022 to March 17, 2023 is of a shocking -12.045%.
Those who, on the other hand, acquired Indexed Units on January 1 at 5.6018 pesos had a positive percentage change from 1,738% taking into account today’s price at 39,496 pesos. These savers not only protected their capitalbut They have generated a profit close to 2% in less than 3 calendar months.
Source: Ambito
