The bearish streak of the dollar persists and it is already trading in the $40 range in the wholesaler

The interbank dollar lost 20 hundredths (0.5%) at the start of exchange operations this Wednesday compared to the close of $ 41.19 that it had on Tuesday. According to updated data from Bevsa, at 12:20 p.m. this day the exchange rate was traded at an average of $40.99 with a minimum quote of $40.95 and a maximum of $41. The amount operated until noon was barely US$ 2 million.

On the board to the public of the BROU, the dollar fell 15 hundredths compared to Tuesday and is offered at $39.85 for purchase and $42.05 for sale when trading averages.

On So far in March, the dollar has already weakened 3% against the peso, while compared to the last operation of last year it did so by 7.7%.

“From the Union of Exporters of Uruguay (UEU) we observe with concern the recent drop in the price of the dollar, which this week was at the lowest level of the last two years”, alerted a statement released by that union on Tuesday. The UEU indicated that the sector is going through a “very particular situation, with high levels of uncertainty and volatility in international markets. However, we consider it necessary to generate mechanisms to avoid abrupt and persistent variations such as those that have been taking place.”

“This situation harms the entire export sector and in particular the export manufacturing industry, great generator of jobs. The institution is in permanent contact with the authorities, raising its deep concern about the current situation,” the exporters’ statement said.

analysts and agents who responded to the March BCU Economic Expectations Survey they projected a dollar at $44.50 for the end of the year in the median of the responses.

In the region

In Brazil, on the other hand, the dollar opened on the rise (0.6%) and around midday this Wednesday it was trading at 4.79 reais per greenback. Meanwhile, in Argentina, the Dolar blue write down this Wednesday a rise of 1 peso to be located at 198 Argentine pesos for the purchase and 201 for sale. In this way, it recovers part of the previous drops, in the midst of the stability that it has been showing after the new agreement with the International Monetary Fund (IMF). With this new development, the informal listing widens the gap to just over 81% with respect to the official exchange rate in the wholesale market and around 74% compared to the retail one.

the official dollar argentinian retailer advances to 116 on the screens of Banco Nación and 116.30 in the average of the country’s financial entities. Meanwhile, the wholesaler opened the day at 110.93, marking another increase of 11 cents from the close of the previous session. In this way, the Central Bank (BCRA) maintains the acceleration in the rhythm of the daily devaluation. With one day to go until the end of March, the official exchange rate accumulates an increase of more than 3.2% per month in Argentina, higher than the 2.32% advance registered throughout the previous month.

On the other hand, in Chile and The dollar began the day on Wednesday with a rise of 2.5 Chilean pesos compared to yesterday’s close, standing at 782.4. In this way, the US currency is once again above the 780 barrier that had moved away in recent sessions and even reached six-month lows. After noon, the appreciation of the dollar was maintained and continued to climb, reaching 787.3, equivalent to 7.4 pesos more than Tuesday’s close. A) Yes, the greenback is close to 790.

And the dollar index —which measures the US currency with the main currencies of the world— falls 0.72% due to the expectation of the development of new news about the conflict in Ukraine.

With El Cronista and Diario Financiero-RIPE

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