The Central Bank of Uruguay and the Ministry of Economy and Finance will place public debt in pesos with different maturities.
He Central Bank of Uruguay (BCU) and the Ministry of Economy and Finance (MEF) This week they will place four titles of public debt domestic with different maturities, for almost 10.8 million pesos.
The first title in pesos will be tendered this Monday at 2 p.m., for a total of 4.5 billion pesos (about 112 thousand dollars), with integration that same day and with a deadline of 28 days. Of the total, 900 thousand pesos will be non-competitive placements, according to the calendar anticipated by the BCU.
Meanwhile, on Tuesday, also at 2 p.m., there will be another award for 2,000 million pesos (about 50 thousand dollars), which will be integrated the next day, with a term of 352 days and an amount of 400 thousand pesos of non-competitive placements .
That same day, the longer-term title will also be put out to tender, they indicated from the Central bank. At 2:30 p.m., a title will be awarded for 800 thousand pesos (about 20 thousand dollars) that will be paid on Wednesday, with a deadline of 700 days. Of the total, 160 thousand pesos will be considered non-competitive placements.
Finally, on Wednesday at 2 p.m. the week will close with the bidding of a title for 4.2 billion pesos (about 105 thousand dollars), with a deadline of 84 days and integration that same day and an amount of 840 thousand pesos considered non-competitive placements. .
Investors lose appetite for taking on debt in pesos
The interest in taking debt in pesos has been falling in recent weeks as a result of the appreciation of the dollar, which is close to its highest value of the year, after two months of positive trend, and threatening to return to the range of 40 pesos.
This scenario coincides with the decline in interest rates, which makes the local currency less attractive for investors. Even more so when the dollar, which today is trading at 39,923 pesos, strengthens globally and could advance in the future. Uruguayan market, so that the exchange delay that are demanded by some sectors.
Analysts believe that investors are demanding greater interest rates and they fear at the same time that inflation accelerate in the coming months, which is why we will have to closely monitor the value of the US currency and the behavior of securities in pesos in the coming weeks.
Source: Ambito
