He dollar closed the last exchange day at 38.715 pesos (-0.17% compared to Monday) according to the interbank price of the Central Bank of Uruguay (BCU), which represents its lowest value in more than two months.
In the last six days, the US currency depreciated, staying within the 38-peso range since Tuesday of last week.
With its value yesterday, the dollar accumulates a 3.38% drop so far in 2023 and 0.46% for March.
The price of 38,715 pesos is the lowest since February 23 when it reached 38,553 pesos. And it was registered just 12 days after the currency reached its highest price in two months: 39,679 pesos on Thursday the 16th.
The values of the peak of March 16 had not been seen since January 16, 2023, when the dollar reached 39.86 pesos. However, since then, the exchange rate has plunged below the floor of 39 pesos and never returned.
Thus, from the accumulated 1.5% shown in March when the dollar reached its maximum value in two months, the US currency began to accumulate a decrease of 0.46%. The expectations that the evolution of the current month would neutralize the strong drop in January (-3.25%) seem to have been buried with only three exchange days left to close the month.
This is how the dollar priced in the last week
- March 21: 38,945 pesos
- March 22: 38,979 pesos
- March 23: 38,741 pesos
- March 24: 38,935 pesos
- March 27: 38.78 pesos
- March 28: 38,715 pesos
He big mac index produced by the renowned magazine The Economist established that the dollar in Uruguay should trade above 50 pesos, while the projections of economic agents is that it closes the year around 42 pesos.
Source: Ambito
