He exchange market in Uruguay resumes its operations this Monday with attention focused on the behavior of the dollar which, in the last ten days, has accumulated a drop of 2.71%.
The bill was quoted on Friday at 38,162 pesos, hitting its lowest value in four weeks. He dollar It had reached 39,223 pesos on Tuesday the 16th, a level it had not reached since January 18.
Although the dollar is on its way to closing a month with a positive sign (today it has accumulated a rise of 1.62%), it is far from the 39 pesos that the market expected, according to the latest Survey of Economic Expectations of the Central Bank of Uruguay (BCU).
The Central Bank, however, continues its defense of the principles of the exchange rate. The vice president of the BCU, Washington Ribeirostated that the exchange delay is a consequence of “Uruguay “It is a serious, stable and extremely attractive country for foreign investment, especially direct.”
For Ribeiro, the value of the nominal exchange rate “is not desirable” and maintained that “it is the flip side of Uruguay’s low sovereign risk, which is within the historical minimum and the minimum within the region.”
The dollar index, in tune
The prospect that rates of Federal Reserve (Fed) higher for longer has pushed up US bond yields and boosted the dollaralthough both fell this Monday.
The Treasury bond yields US 10-year bonds fell 5 basis points to 4.624% after hitting a six-month high of 4.739% last week.
Against the dollar, the euro rose 0.22% to $1.0715. He dollar index fell 0.25% to 105.69, although it was on track for a 1% monthly gain.
He Brent crude oil fell 0.4% to $89.17 a barrel, as news of a possible ceasefire in Loop eased fears about supply constraints.
Source: Ambito
