The dollar fell 0.15% compared to the last day, and closed today in 38,173 pesosaccording to the official price of the Central Bank of Uruguay (BCU). The price of the North American currency continues to plummet and has already accumulated seven consecutive days of decline, getting closer and closer to the floor of 38 pesos. To see a similar value, you have to go back more than three years, to February 19, 2020, when the day closed at 38,064 pesos.
So far this year, the price of the dollar registers a fall of more than 4.74% compared to the end of 2022 in 40,071 pesos. At the same time, at the year-on-year level, the decline is more than 4.77% compared to the day of June 15 of last year, when it was trading at 40,084 pesos. During the month of June, the accumulated drop is more than 1.56% compared to the end of May at 38,779 pesos.
The price of the dollar continues to worry the country’s productive sectors, which are experiencing a current situation of exchange rate delayin recent days the critical voice of the Union of Exporters of Uruguay (UEU), and the merchants of the country’s coast, demanding measures from the national government.
The president himself Luis Lacalle Pouexplained that sometimes the government does not have the ability to “influence” the price of the dollar, and that the situation is given from a large inflow of foreign currency that the country had as a result of the record exports of 2022 and the new investments.
The Fed’s decision to hold rates could further weaken the dollar
The pause in the rate hike announced yesterday by the United States Federal Reserve (fed) could weaken the dollar globally and have a positive effect for emerging markets, which were affected by the global risk aversion cycle.
In recent weeks, significant investor movements into emerging market currencies have begun to take place, such as the Brazilian realwhich continues to appreciate and gives investment returns of more than 9%.
A first possible effect that the strengthening of the real could have would be the upward drag of the Uruguayan peso. The local currency tends to follow, on different occasions, the behavior of the Brazilian currency, so a sustained appreciation of the price in the country could also be expected, to the detriment of the price of the dollar.
The BROU is buying the retailer at less than 37 pesos
On the reference board of the Republic Bank (BROU), the dollar was offered to 36.95 pesos for the buysand 39.35 pesos for the sale. On the other hand, the preferential value of the eBROU dollar He was in 37.45 pesos for the buysand 38.85 pesos for the sale.
The last operation of the day in the Electronic Stock Exchange of Uruguay (Bevsa) was agreed in 38,140 pesoswhile the maximum price was 38,250 pesosand the minimum of 38,140 pesos. On this day, the number of transactions was a total of 3. 4with a total amount of operations of more than $17.3 million.
1 to 1 parity cryptocurrencies with the dollar as Tether (USDT) traded at an average of 39.80 pesos for online purchase through a bank or card, and from 39.80 pesos to 42.40 pesos in the peer-to-peer market (P2P) from Binance.
According to the projections of the latest Survey of Economic Expectations, the BCU reported that market agents expect that, for the current year, the dollar will close at 41.00 pesos on average, which would imply an increase by the end of the year. calendar of 7.4%.
The price of the dollar over the last five days
- June 8 — 38,903
- June 9 — 38,705
- June 12 — 38,662
- June 13 — 38,427
- June 14 — 38,231
Source: Ambito
