The price of the North American currency accumulates an increase of 2.10% so far this month, within the framework of the dollar that is weakening worldwide.
The market is waiting for a dollar that fell 0.44% on Friday with a value of 38,026 pesos, according to the official price of the Central Bank of Uruguay (BCU), remaining close to operating in the strip of 37 pesos.
With its current value, the US currency accumulates an increase of more than 1.65% so far this month and has a depreciation so far this year of more than 5.10% compared to the end of 2022. If analyzed year-on-year, the drop is more sensitive and reaches more than 9.71%, when it was at 41,951 pesos.
Regarding the retail dollar, on the reference board of the Republic Bank (BROU)the dollar was offered to 36.80 pesos for the buysand 39.30 pesos for the sale. On the other hand, the preferential value of the eBROU dollar He was in 37.30 pesos for the buysand 38.80 pesos for the sale.
The last operation of the day in the Electronic Stock Exchange of Uruguay (Bevsa) was agreed in 38,050 pesos, while the maximum price was 38,050 pesos, and the minimum of 38 pesos. On this day, the number of transactions was a total of 47with a total amount of operations of more than $25.3 million.
1 to 1 parity cryptocurrencies with the dollar as Tether (USDT) traded on an average of 39.65 pesos for online purchase through a bank or card, and from 39.77 pesos to 41.92 pesos in the peer-to-peer market (P2P) from Binance.
A weakened dollar worldwide and the danger of the correlate in Uruguay
Last week the dollar weakened to a minimum in the last 15 months. It is that, after the positive inflation data in USA, operators begin to doubt whether, indeed, the Federal Reserve (Fed) of that country will comply with the announced increases in interest rates for the remainder of the year.
However, another factor pushes the decision to return to stocks, in the context of an even more probable context given the uncertainty of the majority of what will happen to US monetary policy: concern that, finally, interest rates will return to going up comes from the hand of a possible recession in one of the most important economies in the world. Consequently, confidence in the dollar continues to fall, as does its price.
In that sense, some of the main market traders said that the dollar is about to suffer more losses as the price fades. american exceptionalism. Along the same lines, bond yields were also generally lower, as investors canceled bets that the Fed would raise rates again after an expected increase for this month.
Source: Ambito
