The dollar rose 1.15% compared to the last day and closed today in 38.33 pesosaccording to the official price of the Central Bank of Uruguay (BCU)in a new rise that leads the price of the dollar to accumulate increases throughout four consecutive rounds, reaching an appreciation of the 2.46% in July.
Despite these increases at the beginning of the month, the North American currency accumulates a decline of 4.35% so far this year with respect to the closing of 2022 in 40,071 pesos. At the same time, year-on-year the drop is more than 4.72% compared to the day of July 6 of last year, when it was trading at 40,228 pesos.
On this day, the Monetary Policy Committee (Copom) of the BCU reduced the interest rate by 50 basis points with respect to the previous month, passing from 11.25% to 10.75%and giving continuity to a contractive phase in terms of monetary policy.
However, from the Copom they took it upon themselves to clarify that the measure does not pursue any exchange rate objective, in reference to the appreciation of the dollar in recent days. According to the president of the BCU himself, Diego Labat“the incidence of the Monetary Rate on the price of the dollar has been overstated”.
The BCU lowered its projections in its latest Survey of Economic Expectations and reported that market agents expect that, for the current year, the dollar will close at 39.97 pesos on average, which would imply an increase by the end of the calendar year of more than 4.28%when before they expected it to close 2023 at 41 pesos.
The retail dollar is sold above 39 pesos
On the reference board of the Republic Bank (BROU)the dollar was offered to 37.10 pesos for the buysand 39.50 pesos for the sale. On the other hand, the preferential value of the eBROU dollar He was in 37.60 pesos for purchase, and 39.00 pesos for the sale.
The last operation of the day in the Electronic Stock Exchange of Uruguay (Bevsa) was agreed in 38,300 pesoswhile the maximum price was 38,600 pesos, and the minimum of 38,150 pesos. On this day, the number of transactions was a total of 54with a total amount of operations of more than 27 million dollars.
1 to 1 parity cryptocurrencies with the dollar as Tether (USDT) traded on an average of 39.7 pesos for online purchase through a bank or card, and from 39.7 pesos to 41.73 pesos in the peer-to-peer market (P2P) from Binance.
The price of the dollar over the last five days
- June 29 — 37,521
- June 30 — 37,408
- July 3 — 37,455
- July 4 — 37,493
- July 5 — 37,894
Source: Ambito
