Bevsa’s total operations grew by 13% last year compared to the previous year, and reached $73,985 million. This total represents an increase of more than 8 billion and more than 12 billion dollars compared to 2022 and 2021, respectively.
In this general result, the performance of Stock market It was key, as it explained 58.4% of the year’s transactions and closed with 17% more —6,233 million dollars— in operations, which totaled 42,649 million dollars.
The most chosen instrument within this market was the Deposit certificates (73%), of which 41% were operated in national currency—pesos and Indexed Units (UI)— and 32% in foreign currency. Second place was occupied by Letters from the Central Bank of Uruguay (BCU) with 23% of the operation.
In particular, certificates of deposits in dollars multiplied their operations almost 8-fold compared to 2022. The rest of the operations corresponded to indexable securities, bonds, eurobonds and private values.
“We close a year with a operating balance highly positive, standing above a record year as was 2022. These figures confirm that we are on the right path and challenge us to continue improving ourselves day by day and to continue strengthening the stock market to give impetus to the economic development of the country,” he noted in this regard. Eduardo Barbieri, general manager of Bevsa.
For its part, the issuance of private values In 2023, the amount traded was multiplied by five compared to the previous year, registering an operation of 477 million dollars, which explained 1.1% of stock market transactions.
These figures were leveraged by emissions from the forestry sector (Southern Eucalyptus)mobility and transportation (Cutcsa), living place (HSBC), infrastructure (Road Corporation of Uruguay) and energy (UTE). In particular, those of CVU and UTE – carried out in December – explained three quarters of those figures.
How did the other markets do?
Although the stock market was the undisputed protagonist in Bevsa’s great year, the money and exchange markets also had improvements in their performance in 2023 compared to 2022.
In that sense, the money market It increased by 6% and reached operations of 24,538 million dollars; which represented 33.6% of Bevsa’s total transactions.
In this case, the most used instrument was Call Rate Pesos from one to seven days, which represented 89.5% of money market operations. While the Call Rate of more than 7 days had a participation of 9.9% of the operation, registering an increase of 88% compared to 2022.
He exchange market, meanwhile, increased by 15%, which meant an increase of 791 million dollars in its operations, which totaled 5.9 billion dollars. Although it is the best-known market, it represented 8.1% of total operations.
The most used instrument was the spot dollar with 93% of the operation, followed by dollar forward, which reached an operation of 410 million dollars during the year, showing an increase of 174%.
“This indicates that agents and operators, although timidly, sought to better manage the predictability of their businesses associated with the evolution of the exchange rate, in a year where the North American currency showed significant fluctuations in the range of 37 and 40 pesos per dollar,” Barbieri concluded.
Source: Ambito
