The US currency achieved a positive balance from “end to end” despite Friday’s fall and a general behavior marked by ups and downs.
He dollar in Uruguay closed its second consecutive week on the rise after a string of days that even made it fall to the range of 38 pesos for the first time in almost two months, and that compromised the good start of 2024 in terms of the exchange rate. Will he be able to maintain his overall positive demeanor?
He dollar closed its last day with a drop of 0.14% but this was not enough to change the general sign of the week, which marked its second positive balance “end to end” consecutively. With this variation, she was quoted at 39,163 pesos, according to the Central Bank of Uruguay (BCU), and remained in the range of 39 pesos for the tenth consecutive round.
The truth is that, despite accumulating an appreciation of 0.36% so far this year – a 0.28% positive balance in this last week alone – economic agents look at the evolution with a well-known concern. of the exchange rate. The thing is that, according to their expectations, the US currency would be around 39.38 pesos at the end of January. However, that price remains unachievable despite the passing of days and a favorable international context regarding the greenback.
A scenario with few certainties
The current situation makes the behavior of the dollar in the local market since, although the global dollar completed its fourth consecutive week on the rise, the exchange rate in relation to the Uruguayan peso fails to echo—at least, with the same intensity—the international movements.
The erratic behavior of the week also contributes to the uncertainty: of the five days, Monday, Wednesday and Thursday traded higher, while Tuesday and Friday closed with a negative balance.
Meanwhile, economic agents expect a value of 41.40 pesos per dollar at the end of 2024, according to the latest Expectations Survey Economic (EEA) of the BCU, despite the fact that the currency does not manage to exceed the middle of the table in the range of 39 pesos.
At the moment, the lowest value it reached so far this year was on January 23, when it hit the floor of 38,685 pesos. In contrast, the peak was on January 9, when it closed with a value of 39,439 pesos.
Source: Ambito
