He exchange market Uruguayan operates this Monday with the attention focused on the dollarwhich closed last week at 40,454 pesos, maintains the bullish rally that took it to its highest level in more than 20 months.
He dollar follows the global trend and has already increased by 1.16% so far in July. Thus, it is on track to add its fourth consecutive monthly increase and already has an appreciation of 3.67% in the annual accumulation.
The US currency rose due to local and international factors after reaching its lowest price of the year on March 26, closing at 37.507 pesos. Since then, it has increased by 7.86% (almost three pesos).
Why is the dollar rising in Uruguay?
The appreciation of the dollar is due to various factors. Some local ones, such as the sharp drop in Foreign Direct Investment (FDI)), but the main ones have to do with international issues. The US currency is appreciating all over the world, mainly against the currencies of emerging countries.
The devaluation of the Brazilian real It is one of the keys to improving the dollar in Uruguayhe explained Diego Rodriguezmanaging partner of Gastón Bengochea & Cia. “The increase in public spending in Brazil This is causing concern in the market of the northern country and this has been transferred to our local market,” he analyzed.
The appreciation of the dollar In Brazil, “it was almost 15%” in the year, he stressed and maintained that it is “a market that is highly regarded in Uruguay as a reference for local quotations.”
Source: Ambito
