The dollar fell again and sharpened the concern of exporters

The downward streak of the dollar in Uruguay does not stop. This Tuesday, the US currency depreciated 0.3% against the Uruguayan peso, with a average of transactions at $41.24, while the last operation through Bevsa was agreed at $41.19, this is 0.5% below Monday.

A) Yes, 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%.

On the blackboard to the public BROU, the exchange rate closed this Tuesday at $40 for purchase and $42.20 for sale. For its part, on the blackboards of the private exchanges, the buying point was located in the range of $39.

For its part, in Brazil, the dollar returned to its downward trend (-0.2%), at 4.76 reais per greenback. While in Chile the dollar ended with a rise of 1.18 units, reaching 780.71 Chilean pesos, according to data from Bloomberg. Globally, the dollar index – which is measured against a basket of relevant currencies – fell 0.6% this Monday, to 98.45 units.

Exporters concern

“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,” warned 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,” warns the exporters’ statement.

In early February, a delegation from the Union of Exporters of Uruguay (UEU) held a working meeting with the authorities of the Central Bank (BCU), an instance that they have already maintained on other occasions to address competitiveness. One of the issues that was on the table on that occasion was the Exporters are concerned about the trend that the exchange rate had been showing at that time (-2.8%).

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.

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