The dollar closed at 37,912 pesos and backed up a 0.05% with respect to the previous day, for which it adds ten consecutive days down, being located at values that were not given since February 2020, according to the official price of the Central Bank of Uruguay (BCU).
The bearish panorama was repeated in the last rounds and the appreciation of the Uruguayan peso is mainly due to three factors: the investment of 4,000 million dollars by HIF Global to build a green hydrogen plant in Paysandú; the improvement in the country’s credit rating from Standard & Poor’s (S&P), Moody’s and Fitch; and the depreciation of the US currency Worldwide.
Regarding this last point, it should be added that the value of the dollar falls worldwide after the US Federal Reserve (Fed) Chairman Jerome Powell pointed out that the fight against inflation “has a long way to go” and ratified the need to continue with a restrictive monetary policy. Thus, the currency fell back to 4.76 reais in Brazil and the euro returned to 1.10 dollars.
Regarding the reference blackboard of the Republic Bank (BROU), the currency was offered to 36,700 pesos for the buys and 39,100 pesos for the sale. On the other hand, the preferential value of the eBROU dollar He was in 37,200 pesos for the buys and 38,600 pesos for the sale.
In turn, the last operation of the day in the Electronic Stock Exchange of Uruguay (Bevsa) was agreed in 37,890 pesoswhile the maximum price was 37,900 pesos and the minimum of 37,880 pesos. On this day, the number of transactions was a total of fiftywith a total amount of operations of more than $25.7 million.
Finally, 1 to 1 parity cryptocurrencies with the dollar as Tether (USDT) traded at an average of 39.58 pesos for online purchase through a bank or card, and from 39.58 pesos to 41.89 pesos in the peer-to-peer market (P2P) from Binance.
The dollar accumulates a setback of more than 2.23% so far in June
So far this month, the fall of the dollar was notorious. After a promising and rising start, the US currency began to fall on Thursday the 8th and has fallen by more than 2.23% in June, compared to the end of May, at 38.779 pesos. In addition, it accumulates a drop of more than 5.38% with respect to the end of 2022, in 40,071 pesos. The decline is so steep that the dollar remains at its lowest level since the February 17, 2020, when it was listed at 37,906 pesos.
Thus, the US currency is trading very far from the estimates of the analysts consulted by the BCU, who, although they reduced the projection, believe that will close the year at 41 pesos. If that is confirmed, the annual advance would be of the order of 4.9%a rate that is less than inflation and would represent a setback in real terms.
The price of the dollar over the last five days
- June 13 — 38,427
- June 14 — 38,231
- June 15 — 38,173
- June 16 — 38,020
- June 17 — 37,931
Source: Ambito
