The US currency increased 0.50% compared to the previous day and confirmed a positive start to the month.
He dollar rose 0.50% compared to Thursday and closed the week at 39.596 pesos, according to the price of the Central Bank of Uruguay (BCU), so it has already been rising for five consecutive days and consolidating in the range of 39 pesos.
In this way, after a positive September, the US currency has accumulated an increase of 2.70% so far this month, cutting the depreciation so far this year to 1.18%. On the other hand, if compared year-on-year, the decrease reaches 3.55%.
With respect to the reference board of the Republic Bank (BROU)he dollar bill Retail was offered at 38.35 pesos for purchase, and 40.85 pesos for sale. For its part, the preferential value of eBROU dollar It was at 38.85 pesos for purchase, and 40.35 pesos for sale.
The closing price of the day in the Uruguayan Electronic Stock Exchange (Bevsa) It was 39,600 pesos, while the maximum price was also 39,800 pesos, and the minimum was 39,540 pesos. On this day, the number of transactions was a total of 39, with an amount of operations of more than 24.6 million dollars. At the same time, an operation of NDF dollar —Non Delivery Forward— (11/08/2023) for just over $5 million.
Cryptocurrencies 1 to 1 parity with he dollar as Tether (USDT) They were quoted at an average of 41.13 pesos for online purchases through a bank or card, and from 41.19 pesos to 43.08 pesos in the Binance peer-to-peer (P2P) market.
Is the bullish rally continuing or coming to an end?
Looking to the future, the behavior of dollar It could stop the upward path that it has been going through in recent weeks, where it largely compensated for the exchange rate delay. It is that, after the cut in the interest rates that decided the BCU, The price could remain “flat” in the coming days, after Copom anticipates the possible end of the downward cycle.
Thus, the Monetary Policy Rate (TPM) remained at 9.50%, with a inflation annual rate of 3.87% and with a target range set between 3 and 6%, with this scenario, after the upward correction, which some analysts analyze as “a rebound” of the exchange delay of recent months, it is expected that the bill could stagnate.
However, dollar rates remain high and it is possible that the United States Federal Reserve (Fed) decide one more increase in the remainder of the year, so the dollar could maintain a global appreciation.
The price of the dollar over the last five days
- September 29 — 38,556
- October 2 — 38,721
- October 3 — 39,141
- October 4 — 39,388
- October 5 — 39,397
Source: Ambito
