The US currency does not rebound and added a daily drop of more than 0.38%, in its eleventh consecutive day in decline.
The dollar continues to plummet fell more than 0.38% with respect to Wednesday and closed in 37,765 pesos, in what was its eleventh consecutive day down, according to the official price of the Central Bank of Uruguay (BCU), where it was not sold at a similar level since February 10, 2020.
Thus, the price of the US currency accumulates a drop of more than 5.75% with respect to the end of 2022 in 40,071 pesos, while the drop so far this month is more than 2.61% if compared to its value at the end of May, in 38,779 pesos. On a year-on-year basis, accumulated depreciation is more than 4.92%, against the day of June 22, 22, when it was listed 39,840 pesos.
On the reference board of the Republic Bank (BROU), the currency was offered to 36.55 pesos for the buys and 38.95 pesos for the sale. On the other hand, the preferential value of the eBROU dollar He was in 37.05 pesos for the buys and 38.45 pesos for the sale.
In turn, the last operation of the day in the Electronic Stock Exchange of Uruguay (Bevsa) was agreed in 37.71 pesoswhile the maximum price was 37.75 pesos and the minimum of 37.70 pesos. On this day, the number of transactions was a total of 3. 4with a total amount of operations of more than $18.2 million.
- Finally, 1 to 1 parity cryptocurrencies with the dollar as Tether (USDT) traded at an average of 39.71 pesos for online purchase through a bank or card, and from 39.71 pesos to 41.89 pesos in the peer-to-peer market (P2P) from Binance.
There are several sectors that question “the exchange rate delay”
In the midst of the appreciation of the Uruguayan peso, which is explained by international and local factors, different sectors of the market questioned the situation and asked for a more competitive dollar. In this regard, the Center for the Study of Economic and Social Reality (Ceres) considered that the exchange delay is of the 25% and called it “a persistent and problematic phenomenon.”
A few days ago, the Rural Association of Uruguay (ARU)from where they considered that the US currency should appreciate between 15% and 30% to quote between 44 and 50 pesos. It is that the agro-export sector is harmed by the weakening of the dollar and its impact on the level of prices and profitability.
Even from the BCU they recognized the exchange rate delay and, in the last report of the Monetary Policy Commission (Copom), marked a misalignment of between 9 and 10%. Furthermore, according to the Economic Expectations Surveythe dollar should exceed 40 pesos by this time in 2023.
The price of the dollar over the last five days
- June 14 — 38,231
- June 15 — 38,173
- June 16 — 38,020
- June 20 — 37,931
- June 21 — 37,912
Source: Ambito
