He dollar rose 0.64% compared to yesterday’s close and was quoted at 38,954 pesos, according to data from the Central Bank of Uruguay (BCU), remaining close to returning to the 39 peso range after its second consecutive improvement.
Within a week of ups and downs, The US currency accompanied the international harmony and partially cut the decline of recent days, so that it has accumulated a depreciation of 0.17% so far this month compared to the end of 2023.
On the reference board of the Republic Bank (BROU)he dollar Retail ticket was offered at 37.80 pesos for purchase and 40.20 pesos for sale. For its part, the preferential value of eBROU dollar It was at 38.30 pesos for purchase and at 39.70 pesos for sale.
The closing price of the day in the Uruguayan Electronic Stock Exchange (Bevsa) was 39,020 pesos, while the maximum price was 39,020 pesos, and the minimum was 38,850 pesos. On this day, the number of transactions was a total of 66, with a transaction amount of 36.2 million dollars.
The crypto Tether (USDT)1 to 1 parity with the dollarwas quoted today at an average of 41.12 pesos for online purchases through a bank or card, and from 41.59 pesos to 42.98 pesos in the Binance peer-to-peer (P2P) market.
The US economy grows and Fed rates could remain high
The economy of USA closed 2023 with a GDP expansion of 2.5%, above the 1.9% of 2022 and driven mainly by consumption, so that the forecasts of a recession that forced the BCU to maintain at 0.75% the Countercyclical Capital Buffer.
The data in the US did not cause a change in expectations about the start of rate cuts on the part of the Federal Reserve (Fed), which could now be left for the second quarter and not for March as planned.
It is that, after 11 rate increases between March 2022 and July 2023, which brought US rates to a range between 5.25% and 5.50%, the highest level in two decades, it is expected that the Fed decide next week at your monetary policy meeting to keep them unchanged.
“The majority of economists have already left their recession forecasts behind, but we are still not convinced,” warned the economist. Eliza Winger, while recalling that “GDP could slow significantly in the first half of 2024 due to a cooling in the labor market and concerns about the availability of credit and consumer demand.”
The dollar over the past five days
- January 18 — 39,348
- January 19 — 39,054
- January 20 — 38,745
- January 23 — 38,685
- January 24 — 38,707
Source: Ambito
