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The dollar opened March with the worst fall and the lowest value in more than a month

The dollar opened March with the worst fall and the lowest value in more than a month

The US currency moved in the same direction in both the local and global markets, and fell to the range of 38 pesos.

Photo: Pexels / Karolina Grabowska

He dollar in Uruguay March began with the worst fall in more than a month and breaking the stability that kept it in the range of 39 pesos for several weeks, so it fell to 38 pesos in a scenario in which the loss of competitiveness.

He dollar It fell 0.31% at the close of the first day of the month, and not only marked its third consecutive day of decline but also its largest daily decline since January 22, when it fell 0.79%. In this way, the US currency was quoted at 38,927 pesos, according to data from the Central Bank of Uruguay (BCU)also registering the lowest value since last January 24, when it closed at 38,707 pesos.

From “end to end”, meanwhile, the currency fell 0.35%, and it is the third consecutive week that the balance is negative.

Likewise, the most significant data from the last weekly session and the first monthly session is that, with a more significant drop than what it had been experiencing in its behavior marked by the ups and downs, he dollar in the local market it finished breaking the accumulated positive of 2024. While on Thursday, at the end of February, it had managed to rescue an increase of 0.06% thanks to the increase in January, yesterday it reversed the sign and the currency accumulated a drop of 0.24% so far this year.

The global dollar also recorded a fall

Unlike what has been a trend in 2024, the dollar in Uruguay moved in the same direction as the global dollar and even at similar levels.

In that sense, the dollar index fell 0.23% yesterday to 103.87 units, in line with the yields of the Treasury bond in the shorter term on Friday, after the governor of the United States Federal Reserve (Fed), Chris Wallersaid he would like to see the US central bank address a balance sheet realignment in favor of shorter-term bonds.

Another factor that dragged the currency down was the confirmation of a new collapse of the Manufacturing sector in February, with a gauge of factory employment falling to its lowest level in seven months, amid a decline in new orders.

Source: Ambito

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