The note appreciated 0.06% daily and ended the bearish streak, although it is on track to close the month with a decline in its value.
He dollar rose 0.06% compared to Tuesday and closed at 38,707 pesos, according to the official price of the Central Bank of Uruguay (BCU), so it showed a slight rebound after three consecutive days of decline that placed it back in the range of 38 pesos.
The bill has thus accumulated a depreciation of 0.86% so far this month compared to the end of 2023 and has not managed to return to the range of 39 pesos. Furthermore, this January cut is added to the 2.62% drop in 2023 and the 10.35% drop in 2022, leaving the dollar far from market expectations.
On the reference board of the Republic Bank (BROU)he dollar Retail ticket was offered at 37.65 pesos for purchase and 40.50 pesos for sale. For its part, the preferential value of eBROU dollar It was at 38.15 pesos for purchase and at 39.55 pesos for sale.
The closing price of the day in the Uruguayan Electronic Stock Exchange (Bevsa) It was 38,790 pesos, while the maximum price was 38,800 pesos, and the minimum was 38,600 pesos. On this day, the number of transactions was a total of 50, with a transaction amount of 24.8 million dollars.
The crypto Tether (USDT)1 to 1 parity with the dollarwas quoted today at an average of 40.59 pesos for online purchases through a bank or card, and from 41.60 pesos to 43 pesos in the Binance peer-to-peer (P2P) market.
Why doesn’t the dollar accompany the global strengthening of the dollar?
In moments where the dollar is going through a stage of strengthening at a global level, waiting for a new decision from the Federal Reserve (Fed) of the United States, The bill began the first month of the year without being able to appreciate.
One of the possible reasons for this situation is the current economic situation in the country and the strength of the Uruguayan peso. “With inflation controlled and Monetary Regulation Bills yielding above 9%, they are super attractive and encourage investors to decide to sell some position in dollars to place themselves in pesos, and with that put pressure on the dollar downwards”, he considered in dialogue with Ambit the financial analyst Francisco Echegoyen, of Gaston Bengochea.
It remains to know what will happen to the interest rates when he Copom meets in less than a month. The Monetary Policy Rate (TPM) is today 9%, after a year of sustained decline by the BCU, although in any case it is still 3 percentage points above the inflation expectations.
The dollar over the past five days
- January 17 — 39,283
- January 18 — 39,348
- January 19 — 39,054
- January 20 — 38,745
- January 23—38,685
Source: Ambito
