The annual decline also coincides with the difference between the current price, increasingly closer to $38, and market expectations.
He dollar in Uruguay It fell again and approached the range of 38 pesos after two consecutive days of growth that had stabilized it above 39 pesos. Meanwhile, he is once again raising concerns about the exchange delay At the same time as the global currency interrupts its recovery.
The dollar fell 0.26% yesterday compared to Tuesday and closed at 39.07 pesos, according to him Central Bank of Uruguay (BCU). In this way, it was a worrying few steps away from returning to the range of 38 pesos once again so far in December, very far from the market expectations that projected the currency around 40 pesos for this time of year. year just a month ago.
Likewise, the greenback returned to negative ground so far this month, with a decline of 0.13% compared to a November that was also not positive and marked the second worst monthly decline of the year. In 2023, meanwhile, it has an accumulated depreciation of 2.50%.
With this scenario, the exchange delay once again takes on volume as the main concern of export sectors, but also of the coastal shops who see the expansion exchange difference with Argentina. However, the BCU insists that one must be “very careful when assessing any measurement of misalignment” when there is a free exchange rate.
The free floating It is not questioned by the board of directors of the monetary authority, as confirmed by the president of the BCU Diego Labat to Ambit; At the same time, the end of the rate cut cycle – which has the effect of lowering the bet on the peso – is getting closer and closer.
The dollar falls again in the world
The lowering of dollar in Uruguay It did not have its correlation with what happened to the currency globally, since yesterday it closed higher at 104,108 units—the highest in almost three weeks. However, the dollar index has already registered significant declines so far this day, reaching 103,605 units. This means a 0.48% decrease.
Attention, meanwhile, continues to be focused on the employment data of USA, that can be a determinant for the Federal Reserve (Fed) define the course of its monetary policy in the short term and, with it, the possibility that the eventual cuts in interest rates—which are currently at their historical maximum—take place during the first quarter of the year, advancing the schedule projected by investors.
Source: Ambito
