After two consecutive falls, the bill recovered, although it did not manage to exceed the $40 range and has accumulated an increase of 0.02% monthly.
Yesterday the dollar closed at 39,982 pesos, according to the official price of the Central Bank of Uruguay (BCU), achieving an increase of 0.44% compared to the previous day.
With this increase, the American currency It once again approached the range of 40 pesos, and so far in November, it has accumulated a slight monthly increase of 0.02% compared to the end of October. So far this year, it has registered a drop of 0.22% compared to how it closed in 2022.
Meanwhile, since the Union of Exporters of Uruguay (UEU) they continue to accuse a exchange delayhis executive secretary, Margarita Varelaassured that the exchange rate “continues to be among the main concerns” of the export sector.
An exchange rate that affects exports
The value of the dollar continues to be one of the biggest concerns for the export sector, which notes low competitiveness due to the price of the foreign currency.
According to the report of International Trade Outlook for Latin America and the Caribbean of ECLAC, a 4% drop was projected in the price of products exported from Uruguay in 2023, one of the lowest levels in the region, although sales volume will drop by up to 17%.
This situation is due to the impact of the historic drought in the country, which generated significant losses in the agricultural sector, as well as the current economic situation of China, that conspires against national placements. On the other hand, low competitiveness is another factor that affects Uruguay.
On the other hand, it predicts that the country’s loans will fall by 20% compared to 2022, which was a record year, so that this decrease is only surpassed in the region by those of Argentina (22%) and Venezuela (24%). Meanwhile, at the regional level, the ECLAC considered that the exported volume will increase by 3%, with a drop of 5% in the prices of the products.
Source: Ambito
