Meanwhile he dollar worldwide has been appreciating its value in recent days, in Uruguay It was managed to stabilize close to 40 pesos, but without being able to cross the range that reached only one day in the year.
With just a rise of 0.04%, the markets agree that the dollar remained stable compared to yesterday’s close. In this way, the US currency closed at 39,935 pesosaccording to the official quote of the Central Bank of Uruguay (BCU)and is still relatively close to being able to return to the 40 peso range, where it could only remain on Wednesday of last week.
The US currency thus accumulates a decline of 0.10% so far this month and a depreciation of 0.34% in 2023, after a significant rise in recent months.
A stable global context
He dollar It operates in a context of global stability that has been finding its correlation in the country in recent days, with the US currency recovering around the world.
In fact, the dollar index, which compares the strength of the bill in relation to six other main currencies in the world, closed yesterday at 105,448 units; while today it opened higher at 105,435 units.
This occurs at times when the local price is at levels similar to those expected by the market, although with a level of exchange delay that some sectors question, mainly agro-exporters.
Meanwhile, investors around the world await the determinations of the United States Federal Reserve (Fed) regarding the possibility of a new increase (or not) in reference interest rates before the end of the year. The expectation is that internal divergences will begin to be noticed in the Federal Open Market Committee (FOMC) regarding whether to continue with the contractionary monetary policy as it is now, or whether to deepen the measures taken so far.
The data from consumer price inflation corresponding to October that will be known next week will be key to determining what can happen to the dollar in the remainder of the month.
For its part, the behavior of dollar in Brazil, the main reference market for Uruguay rose 0.67%, while so far this year, the Brazilian dollar has fallen by 6.01%. This also influences the fact that the national price does not immediately follow the global dollar.