The US currency had a daily drop of 0.83% and is on track to close a rather negative month.
He dollar fell 0.83% compared to the previous day and closed at 39,066 pesos, according to the price of the Central Bank of Uruguay (BCU), thus chaining its sixth consecutive day of decline and being very close to piercing the 39 peso range.
With this setback, the dollar accumulates a pronounced decrease of 2.27% so far this month, in line with the global weakening of the US currency. If compared to the end of last year, during 2023 the depreciation reached 2.51%.
Furthermore, on the reference board of the Republic Bank (BROU)he dollar bill retail It was offered at 37.95 pesos for purchase, and 40.35 pesos for sale. For its part, the preferential value of eBROU dollar It was at 38.45 pesos for purchase, and 39.85 pesos for sale.
The closing price of the day in the Uruguayan Electronic Stock Exchange (Bevsa) It was 39,130 pesos, while the maximum price was 39,150 pesos, and the minimum was 38,990 pesos. On this day, the number of transactions was a total of 89, with a transaction amount of 47.6 million dollars.
The crypto Tether (USDT)1 to 1 parity with the dollarwas quoted at an average of 41.05 pesos for online purchases through a bank or card, and from 41 pesos to 43.56 pesos in the Binance peer-to-peer (P2P) market.
For its part, the price of dollar prex It was at 38.95 pesos for purchase, and also at 39.35 pesos for sale.
The dollar weakens globally and moves away from what the market expects
After six rounds of trading downwards, the dollar It has already fallen 2.27% so far this month and is not only moving away from 40 pesos, but also threatens to return to the range of 38 pesos.
In this way, it moves away from what the market expects, which according to Economic Expectations Survey (EEA) of BCU was going to close the year at 40.10 pesos, despite the recent cut of 25 basis points in the Monetary Policy Rate (TPM).
In fact, the Monetary Policy Committee (Copom) published the minutes of that last meeting today and admitted concern about “the significant decrease in exchange rate reality and the growing problems of competitiveness in the Uruguayan economy.”
In turn, they referred to the global decline in dollar in recent weeks and attributed it mainly to the fact that United States Federal Reserve (Fed) It kept the interest rate unchanged and “the labor market indicators and the decline in inflation would allow it to begin lowering rates sooner than expected.”
The price of the dollar over the last five days
- November 14 — 39,893
- November 15 — 39,699
- November 16 — 39,561
- November 17 — 39,558
- November 20 — 39,393
Source: Ambito
