Even so, the US currency marked the lowest monthly average since January 2020, in a month marked by the “ironed” price.
He dollar in Uruguay closed August with a new drop in the price, which seems to leave it increasingly far from the 38 weight rangeyes; the delay is even greater if the moderate expectations maintained by the market players are contemplated, not to mention the value that the export sectors claim in terms of recovering some competitiveness. However, the month that remains behind recorded the highest monthly increase of the US currency since February, after two extremely worrying months for the exchange rate.
In real terms, August was a month of “ironed” dollar, with consecutive rises and falls that kept the price in the range of 37 pesos, without great risks of falling from that floor, but neither with expectations of a significant valuation. In this sense, the Daily average of the US currency was 37.85 pesos.
This meant a 0.1% drop compared to the previous month, the third consecutive in the monthly average value, and it is the lowest record since January 2020, prior to the Covid-19 pandemic. However, from “end to end”, the dollar rose 0.44%, being the highest monthly increase since February. After two months in decline, the minimal increase is good news.
Likewise, of the 22 days in which there was exchange activity, in 12 the dollar fell, while 10 days had a positive closing for the US currency. Along the same lines, the largest daily increase was on August 3, when it increased by 1.05%; that day also registered the highest price in August, with a value of 38.26 pesos. In contrast, the steepest drop was the following day, on August 4, when it fell back a 0.53%; although the lowest price was given on August 1, with 37,496 pesos.
How did the dollar fare on the last day of August?
He dollar it fell 0.24% compared to Wednesday and traded at 37,592 pesos in its second consecutive day down, according to data from the Central Bank of Uruguay (BCU), so that it closed the month with a slight appreciation of almost 0.44%.
In this way, although August ended with a slight rise, the US currency was far from what it seemed to anticipate at the beginning of the month, when with three consecutive improvements it climbed to 38,259 pesos and ended at a level quite similar to that registered in July.
With this new setback, the dollar accumulates a depreciation of 6.19% compared to the end of 2022 and that drop reaches 7.85% if compared with its performance on the day of August 31 of last year, which speaks of a scenario of exchange rate delay
Source: Ambito
