The US currency fell 0.40% in its eighth consecutive day of decline, according to the Central Bank of Uruguay.
The dollar added its eighth consecutive day in decline and was very close to pierce the floor of the 38 pesos, when closing to 38,020 pesos, with a setback of 0.40% with respect to the previous day, according to the price of the Central Bank of Uruguay (BCU).
With this new fall, so far this year, the price of the dollar registers a drop of more than 5.11% compared to the end of 2022 at 40,071 pesos, while year-on-year it fell by almost 5.12% compared to the day of June 16 of last year, when it was trading at 40,044 pesos. If only the current month is measured, the accumulated loss in June is more than 1.95% compared to the end of May at 38,779 pesos. In fact, it reached its lowest level since the February 17, 2020, when it was listed at 37,906 pesos.
On the reference board of the Republic Bank (BROU), the dollar was offered to 36.70 pesos for the buys and 39.30 pesos for the sale. On the other hand, the preferential value of the eBROU dollar He was in 37.20 pesos for the buys and 38.80 pesos for the sale.
In turn, the last operation of the day in the Electronic Stock Exchange of Uruguay (Bevsa) was agreed in 38,010 pesoswhile the maximum price was 38,020 pesosand the minimum of 38,000 pesos. On this day, the number of transactions was a total of 47with a total amount of operations of more than $26.2 million.
Meanwhile, the 1 to 1 parity cryptocurrencies with the dollar as Tether (USDT) traded at an average of 40.05 pesos for online purchase through a bank or card, and from 40.10 pesos to 42.40 pesos in the peer-to-peer market (P2P) from Binance.
The reasons behind the sustained fall of the dollar
When investigating the reasons for the fall of the US currency, some analysts, such as the Personal Sherpa financial agency, had anticipated a bearish process after the historic investment of the company HIF Global to build a green hydrogen plant in Paysandú.
It is that, as they argued, the disbursement of close to 4 billion dollars Announced on June 8, it could generate a renewed entry of dollars into the economy and consequent pressure for the peso to continue appreciating, a situation that ended up being ratified in fact.
In arguing in favor of this projection, Personal Sherpa compared the current investment with what happened in July 2019, when UPM ratified that it was going to invest for its second plant in the country. That is what the pause in the contractionary monetary policy of the United States Federal Reserve (Fed).
The price of the dollar over the last five days
- June 9 — 38,705
- June 12 — 38,662
- June 13 — 38,427
- June 14 — 38,231
- June 15 — 38,173
Source: Ambito
