The dollar opened the week (Monday was a holiday and there was no operation) with a strong drop in the Uruguayan exchange market. According to the data disclosed by the Electronic Stock Market, the The average interbank rate for this Tuesday was $40.60, a value 2% lower than that of Friday.. However, the The last transaction was agreed at $40.35, with a decrease of 2.65% compared to Friday. The amount operated on this day was relatively low: barely US$ 4 million; In previous days, it exceeded US$ 30 million per day.
After remaining for nine consecutive days above $41 in the wholesale market and advancing 1.5% in May, the dollar erased all its monthly gain and is now down 0.5% against the Uruguayan peso. In addition, it is 9.2% below the last operation of last year.
On the board of Banco República (BROU) the dollar was offered this Tuesday at $39.20 for purchase and $41.60 for sale.
The sharp depreciation of the exchange rate in Uruguay coincides with the meeting that the Copom Monetary Policy Committee of the Central Bank will hold this Tuesday, where a new increase in the policy interest rate is expected to anchor the inflationary expectations of economic agents. .
Sharp decline in Brazil and other emerging
The The dollar fell sharply and returned to below 5 reais per greenback in Brazil. The US currency fell 2% this Tuesday, 4.94 reais per dollar, while the Brazilian stock market posted a rise of 0.4%.
In contrast, in Argentina the dollar Dolar blue Today it began with a strong rise that increased its initial price by 3 units, reaching 205 Argentine pesos for the purchase and 208 for the sale. While, official dollar rose 25 cents towards the end of the day to trade at 117.25 for the purchase and 123.25 for the sale. This week there is a holiday, tomorrow, Wednesday, May 18, for the 2022 census in Argentina.
On the other hand, on a more optimistic day for global marketss, the dollar in Chile marks its third session down, supported by the strength of copper and a decline in the greenback. Specific, the exchange rate falls 8.95 units to 849 Chilean pesosits lowest level since April 26 and its biggest drop since April 12, according to Bloomberg.
“Investors are seeing aggressive short-term interest rate hikes by the US Federal Reserve as slowing the nation’s long-term growth,” explains the senior market analyst at XTB Latam, Francisco Román.
With Diario Financiero and El Cronista-RIPE
