Analysts consulted by the Central Bank of Uruguay revised the exchange rate downwards, with a median of $39.40 for the end of the year.
He Central Bank of Uruguay (BCU) released the Economic Expectations Survey(EEE) of September, where the analysts consulted revised downwards the value of the dollar and they expect it to trade around 39.40 pesos at the end of the year.
In this way, the market seems to digest the exchange delay that crosses the country and that aroused criticism from different sectors, mainly agro-exporters. In this way, the expectations of the analysts consulted were far from the 42.10 pesos they believed the US currency could reach when the year began.
The expected value of dollar had a median of 39.40 pesos and an average of 39.23 pesos, according to the response of the 23 specialists consulted by the BCU, with answers that ranged between 38 and 40 pesos.
Meanwhile, the ticket was quoted today at 38.285 pesos, with an increase of 0.02% compared to the previous day, so that it has accumulated an increase of 1.84% so far this month. However, the decline so far this year reaches 4.46%.
The market aligns inflation expectations with the official projection
On the other hand, the Central Bank also announced the Selective Inflation Expectations Survey and were located at a median of 5% from January to December, decreasing from the last value of 5.40% and approaching the official forecasts,
However, this projection increases to 6.50% among businessmen when analyzing the growth of the CPI for the next 12 months, while it stands at 6.20% for the next 24 months. It is worth noting that the inflation retail is today at 4.1%, at its lowest level since 2005, according to the latest data from the INE.
Source: Ambito
