During the past and until the middle of this year, Argentina was the attraction for Uruguayans due to the exchange rate, now the drop in the currency of the Brazilian giant is attracting attention, and that could have an impact on Uruguayan tourism, in addition to affecting the sales in neighboring departments.
The peso in Brazil has depreciated “more than 19% against the dollar so far this year, and now the departments of Artigas, Rivera and Rocha are the most affected.
Ámbito Financiero Uruguay indicates that “the dollar is trading at 5.7648 reais, according to the Central Bank of Brazil. The devaluation of the Brazilian real began to cause concern at the regional level, since the South American giant becomes cheaper for the pockets of citizens of neighboring countries, something that could have an impact on a new diversion of consumption towards the land border with Brazil, something as happened on last year and the first months in which Uruguayans went to Argentina.
Prices are around 50% less in Brazil compared to Uruguay. That would also imply a rush of Argentines towards the South American giant.
As often happens, it is border trade that pays the consequences. “In Artigas, the unemployment rate reaches 12.2%, while in Rivera and Rocha it is 10.3% and 8.4%, respectively.”
