The US currency increased by 0.11% and savers remain expectant after the BCU’s decisions and the Fed’s projections.
He dollar rose 0.11% compared to Tuesday and closed at 38,538 pesos, according to the official price of the Central Bank of Uruguay (BCU)accumulating a streak of seven increases in the last nine wheels.
In this way, the US currency accumulates a positive April, with a growth of 2.63%, which could be accentuated after the market begins to consider that the United States Federal Reserve (Fed) will wait until September to raise the interest rate.
On the reference board of the Republic Bank (BROU), dollar bill retail It was offered at 37.45 pesos for purchase and 39.85 pesos for sale. For its part, the preferential value of eBROU dollar It was at 37.95 pesos for purchase and at 39.35 pesos for sale.
The closing price of the day in the Uruguayan Electronic Stock Exchange (Bevsa) It was 38,630 pesos, while the maximum price was also 38,630 pesos, and the minimum was 38,450 pesos. On this day, the number of transactions was a total of 30, with a transaction amount of 14.6 million dollars.
The crypto Tether (USDT)1 to 1 parity with the dollarwas quoted today at an average of 40.11 pesos for online purchases through a bank or card, and from 40.89 pesos to 42.69 pesos in the Binance peer-to-peer (P2P) market.
Lower interest rates could attract investors
In moments where the dollar accumulates a depreciation of 1.24% so far this year, which generates strong criticism from the agro-export sector for the exchange delay, The BCU defined a cut of 50 basis points in the Monetary Policy Rate, which remained at 8.5%.
Thus, after a 2023 where the monetary authority led the rate cut at the regional level and after a first meeting without changes in 2024, the central bank sent a clear signal that could strengthen the greenback, if the market analyzes this surprise reduction as a disincentive to invest in pesos and turn to the US currency.
To this is added, on the international stage, the data of inflation higher than expected in the US, after which analysts began to predict that there could be a single decline in the interest rate during 2024, when three were previously planned.
The dollar over the past five days
- April 3 — 38,247
- April 4 — 38.24
- April 5 — 38,521
- April 8 — 38,792
- April 9 — 38,494
Source: Ambito
