The dollar registered a sharp drop again in the exchange operations this Wednesday in Uruguay. The US currency traded on the interbank average at $43.23, a fall of 0.5% compared to Tuesday; the last operation was agreed even below: $ 43.20, according to Bevsa. With this new decline, The greenback has depreciated 3.3% against the Uruguayan peso so far this year and is at the levels of the beginning of last October. In total, US$ 14.1 million were operated and there was no direct intervention in the spot by the Central Bank.
The dollar had closed 2021 at $44.70, making it $1.5 below that benchmark currently.
For its part, in the BROU’s public board, the dollar was below $42 at the buying point ($41.95), while the sale is offered at $44.35, 10 cents below Tuesday’s close.
A delegation from the Union of Exporters of Uruguay (UEU) held a working meeting on Tuesday with the authorities of the Central Bank (BCU).). One of the issues that was on the table was the exporters are concerned about the trend that the exchange rate has been showing since the beginning of the year. The head of the UEU’s Economic Advisory, María Laura Rodríguez, told The Observer that the “concern” about the drop in the exchange rate and the “fear” that this trend will continue if investors choose to change their investment portfolios from dollars to pesos, something that could accentuate the current trajectory of US currency in the local square.
Meanwhile, unlike yesterday, where it remained stable, the dollar weakened 0.75% in Brazil, to 5.22 reais per greenback. The Brazilian market is usually taken as the exchange reference in the region. For its part, in Argentina the blue dollar rose 0.9% this day, to 217 Argentine pesos; the official remained unchanged at 111 Argentine pesos.
Globally, the dollar weakened slightly this day against a basket of relevant currencies (euro, yen, pound, Canadian dollar, Swedish krona and Swiss franc). The Dollar Index fell 0.15% this Wednesday.
For their part, bond yields cooled this Wednesday in the US, amid a dramatic rise in 2022. The 10-year US Treasury bond rate is at 1.93%, after touching a yield of 1 .97% on Tuesday.
Investors are also preparing for the Thursday’s consumer price index report, which should provide an update on the US inflation outlook. The Federal Reserve has already referred to a policy rate hike to address historically high price increases. Inflation data is estimated to show prices rose 0.4% in January, an increase of 7.2% from a year earlier, according to Dow Jones.
With Diario Financiero-RIPE
