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The dollar fell and cut the rise accumulated in recent days

The dollar fell and cut the rise accumulated in recent days

The greenback fell 0.73%, losing almost all of the appreciation it showed after six consecutive days on the rise.

Photo: Freepik

He dollar fell 0.73% compared to Thursday and closed at 38.497 pesos, according to the price of the Central Bank of Uruguay (BCU), so it put an end to a six-day winning streak and cut almost the entire series in a single day.

With this decline, the US currency closed the week in negative territory and cut its rise so far this month to 0.47%. Meanwhile, if compared to the last business day of 2023, the depreciation of the dollar was 1.35%, giving rise to criticism regarding the problem of the exchange delay.

On the reference board of the Republic Bank (BROU)he dollar Retail ticket was offered at 37.25 pesos for purchase and 39.75 pesos for sale. For its part, the preferential value of eBROU dollar It was at 37.75 pesos for purchase and at 39.25 pesos for sale.

The crypto Tether (USDT)1 to 1 parity with the dollarwas quoted today at an average of 41.26 pesos for online purchases through a bank or card, and from 40.90 pesos to 42.77 pesos in the Binance peer-to-peer (P2P) market.

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The dollar traded lower after the Copom decision

One of the factors that could affect the value of the dollar It is the reference rate, which the BCU maintained this Thursday at 8.5%, acting in line with market expectations.

After 2023 where the monetary authority led the rate cuts, the outlook is different for this year, when economic agents predict only a reduction of 25 basis points throughout the year for the Monetary Policy Rate.

In this way, it is not expected that in the next meetings of the Monetary Policy Committee (Copom) there are sudden, much less constant, movements that can give a signal to investors, at least until the inflation expectations converge with the horizon drawn by the BCU.

The dollar throughout the previous days

  • May 10 — 38,511
  • May 13 — 38,531
  • May 14 — 38,641
  • May 15 — 38,728
  • May 16 — 38,781

Source: Ambito

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