He dollar It reached 40 pesos for the first time in the year and, to reach that level, the upward path that it developed during the last three months was key, in which it appreciated 6.73%, strengthened by the global context.
If the quote of the Central Bank of Uruguay (BCU) this Wednesday (there was no activity today due to the Day of the Dead), it can be seen that the dollar is at 40,019 pesos, just 0.13% below the value at which it closed last year.
However, the US currency began to appreciate against the Uruguayan Peso in recent months, after wandering for much of the year between 37 and 38 pesos, reaching its minimum on June 30, when it was listed at 37,408 pesos.
The banknote’s positive streak began in August. At the beginning of the month, the dollar It was worth 37,496 pesos and, although it managed to return at times to the range of 38 pesos, it closed that month with an improvement of 0.44%, at 37,592 pesos.
From there, the currency had a bullish rally, with an improvement of 2.56% in September, reaching 38,556 pesos. From there, it continued to grow, returning to the range of 39 pesos and closing October with an increase of 3.68%, at 39,974 pesos. The final push to return to what was its “ceiling” for the year was given during the day on Wednesday, when it increased 0.11% to reach 40,019 pesos.
The dollar is above the value expected by the market
In this way, the dollar is today above what the analysts and entities consulted by the BCU in the last Economic Expectations Survey (EEA). The thing is that in their latest report, they considered that the note was going to close October at 39.71 pesos and they expected it to close 2023 at 40 pesos, with an upward correction of 1.52% of the price compared to the previous survey.
Looking ahead to the next 12 months, the median of the survey responses EEA indicated that the US currency will reach 41.70 pesos by September of next year and 42.35 pesos at the end of 2024.
Source: Ambito
