The dollar index faces its first annual loss since 2020, and the local exchange rate is dragged down.
He dollar in Uruguay chained his third consecutive losson par with international markets, and continues in the lower half of the range of 39 pesosfar from market expectations and soon to close a year marked by exchange delay.
He dollar It fell again, although only by 0.09%. compared to last Friday. An almost insignificant movement after, in just two days, it lost 1.44% of its value. In this way, the US currency was quoted at 39,351 pesos, according to official data from the Central Bank of Uruguay (BCU).
So far in December, meanwhile, the currency accumulates a appreciation of 0.59% after a November that registered the second but lowest monthly of the year; while in 2023, falls 1.80%.
The global context anchors the local price
The panorama at the local level, however, is not surprising, since it significantly influences the behavior of the dollar at a global level. Unlike what happened during the first half of the year, where the fall of the US currency In the local exchange market it was contrary to what was happening in the international context, the declines now respond to the general behavior of the greenback.
In that sense, the dollar index also fell yesterday, prolonging what was a poor performance last week, following the announcements of the United States Federal Reserve (Fed) regarding the possible cut in benchmark interest rates during the first quarter of 2024.
Thus, the indicator fell slightly from 102.548 to 102.5536 units at the close of trading yesterday. While today it opened lower at 102,548 units, and reached minimum of 101,722 units, the lowest value since last July 31.
He dollar now face your first annual loss against a basket of six currencies since 2020, as the momentum of the strong rate hikes of the Fed and the “more climbs for longer” message has faded.
Source: Ambito
