The dollar weakens and has been down for three consecutive days

The dollar weakens and has been down for three consecutive days

He dollar fell 0.01% compared to Thursday and closed at 38,756 pesos, according to data from the Central Bank of Uruguay (BCU), trading lower for the third consecutive day and remaining in the range of 38 pesos.

In this way, the US currency has accumulated a depreciation of 0.74% so far this month, in which, of a total of six rounds, only one was above 39 pesos, in line with the international scenario. . Furthermore, if compared to its value at the end of 2023, the dollar fell 0.68%.

On the reference board of the Republic Bank (BROU)he dollar Retail ticket was offered at 37.50 pesos for purchase and 40 pesos for sale. For its part, the preferential value of eBROU dollar It was 38 pesos for purchase and 39.50 pesos for sale.

The closing price of the day in the Uruguayan Electronic Stock Exchange (Bevsa) It was 38,760 pesos, while the maximum price was 38,770 pesos, and the minimum was 38,700 pesos. On this day, the number of transactions was a total of 53, with a transaction amount of 26.6 million dollars.

The crypto Tether (USDT)1 to 1 parity with he dollarwas quoted today at an average of 42.12 pesos for online purchases through a bank or card, and from 41.20 pesos to 42.87 pesos in the Binance peer-to-peer (P2P) market.

The dollar weakens due to local and international factors

He exchange rate went from an “ironed” scenario to a slightly downward one in recent days, due to issues linked to local factors, such as the arrival of investments, but also due to the international situation, with a global dollar which recorded its biggest weekly drop of the year.

At the local level, the decision of the BCU to maintain the Monetary Policy Rate (TPM) at 9% adds to the recent signing of a memorandum of understanding with the company HIF Global which involves an investment close to 6,000 million dollars to build a plant green hydrogen in Paysandu.

The financial education site Sherpa staff, headed by the economist Rodrigo Saráchaga, recalled that when the construction of UPM 2 The exchange rate fell 1 peso quickly. “It is that the income of dollars Foreign direct investment (FDI) generates an excess supply of the US currency, and when something is abundant, its price falls,” they highlighted.

At the international level, the dollar index traded lower and most of the currencies of Latin America were appreciated, after the employment figures in USA that markets eagerly awaited, looking for clues about future movements in interest rates by the Fed.

The growth of employment in the North American country accelerated in February, but the increase in the rate of unemployment and moderating wage gains kept a planned June interest rate cut by the U.S. on the table. Federal Reserve.

The dollar over the past five days

  • March 1 — 38,927
  • March 4 — 38,998
  • March 5 — 39,051
  • March 6 — 38,962
  • March 7 — 38,761

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

“Now comes the best time of the year”

“Now comes the best time of the year”

Benedikt Güttl (front) and Christian von Fintel (right) WELS/GMUNDEN. According to Harald Stelzer, spokesman for the OCS Swans Gmunden, defending the title in the basketball