The Uruguayan peso continues to strengthen and the US currency showed a daily fall of 0.42%.
He dollar it fell 0.42% compared to Wednesday and traded at 37,794 pesos in its second consecutive day down, according to data from the Central Bank of Uruguay (BCU), with which his distance from the 38-peso range was accentuated.
With this new data, the US currency reduced its monthly appreciation, although it continues with a rise of 0.97% so far in August. However, in some sectors there is concern about the loss of competitiveness, even more so if one analyzes its decline in the accumulated annual figure, which reached 5.69%. Meanwhile, at the year-on-year level, the drop in dollar is 5.96%.
On the reference board of the Republic Bank (BROU), he dollar it was offered at 36.60 pesos for purchase, and 39 pesos for sale. On the other hand, the preferential value of the eBROU dollar it was at 37.10 pesos for the purchase, and 38.50 pesos for the sale.
The last operation of the day in the Electronic Stock Exchange of Uruguay (Bevsa) was agreed at 37,800 pesos, while the maximum price was 37,850 pesos, and the minimum was 37,750 pesos. On this day, the number of transactions was a total of 21, with a total amount of transactions of nearly 12 million dollars.
1 to 1 parity cryptocurrencies with the dollar such as Tether (USDT) were quoted at an average of 39.19 pesos for online purchase through a bank or with a card, and from 39.17 pesos to 42.14 pesos in the peer-to-peer (P2P) market. from Binance.
For its part, the price of dollar Prex was at 37.71 pesos for the purchase, and 38.09 pesos for the sale.
Exchange rate lag remains a concern
The value of dollar is a subject of criticism from some sectors, mainly agro-exporters, who consider that there is an important exchange rate delay, which in some cases are in the order of 25%. In fact, this situation is consistent with the Big Mac Index, according to which the Uruguayan peso is the most overvalued currency in the world.
On this point, the CEO of Ceres, Ignacio Munyo, considered in dialogue with Ámbito.com that “the issue of exchange rate delay or misalignment of the real exchange rate with respect to its fundamentals is a very complex issue because Uruguay has a flexible exchange rate and there is no government that it is manipulating or compromising certain values like other countries”.
For this reason, he estimated that there is “an agenda of necessary reforms to improve efficiency, which includes a reform of the State, assuming that produce in Uruguay It is expensive”.
The price of the dollar over the last five days
- August 3 — 38,259
- August 4 — 38,055
- August 7 — 38,018
- August 8 — 38,031
- August 9 — 37,952
Source: Ambito
