The international market is affected by Memorial Day in the United States.
The US banknote closed yesterday in Uruguay with an increase of 0.02% compared to Friday, closing at 38,553 pesos, according to the official price of the Central Bank of Uruguay (BCU), while the international market is affected by the festivities in United States and United Kingdom.
The dollar has accumulated a monthly increase of 0.61% in May, but it has an accumulated depreciation of 1.20% at an annual level, after falling 0.47 pesos since the last exchange day of the year 2023. In this way, then After four consecutive days of growth, the exchange rate is expected to continue rising.
While globally, the dollar could be on track to experience its first monthly loss of the year, although this Tuesday it finds the markets a little limited due to the holidays celebrated in United Kingdom and USA.
In this way, the markets are waiting for data on inflation of per capita consumption in USA and of CPI in the main euro zone economies that could most shake markets from their current thinking, by affecting expectations about when the main central banks will begin to cut interest rates.
The agricultural sector complains, once again, about the exchange rate delay
The Rural Federation (FR) held its annual conference where they communicated some conclusions in relation to the agricultural sector. First, they highlighted the good things about the economic system. “We consider the reduction in inflation achieved to be very important, an objective that we must maintain. We also agree on the free floating of the dollar,” the statement states.
“However, the brutal exchange rate delay must be recognized, which critically and decisively affects the competitiveness of the productive and export sectors. It is essential that the tax burden be compensated with specific fiscal relief, as a way to alleviate what this erosive situation implies. “adds the letter.
In that sense, they stressed that the agricultural sector is key to the economy and has always been a lifeline in times of crisis. “Primary production is unable to transfer its impact to other links in the production chains. The sector has proven to be supportive in the crises experienced in this five-year period, we ask to be considered in this exceptional situation,” the statement highlights.
Source: Ambito
