The dollar weakened again in the last trading session in May (-0.75%) and closed below the $40 threshold at face value.
The average of the interbank this Tuesday was $39.902, while the last operation was agreed at $39.90 (-0.37%). A) Yes, in the end-to-end variation of the month, the US currency weakened 2.3% ($ 0.92) against the Uruguayan peso and accumulated its fifth month on that path of depreciation. So far this year, the exchange rate in Uruguay fell 10.7%.
On the BROU public board, the dollar closed this Tuesday at $38.70 for purchase and $41.10 for sale.
In other regional markets the dollar also lost ground last month: in Brazil (-4.8%), in Chile (-3.3%) and in Peru (-3.3), according to Google Finance. Meanwhile, in Colombia, the dollar advanced 0.4% against the Colombian peso in May. This country is currently in the middle of the electoral process. and the favorite to win the government is a candidate from the left (Gustavo Petro).
In the Chilean market, the dollar recorded its biggest monthly decline since January. According to data from Bloomberg, the dollar closed at 824.41 Chilean pesos, a daily drop of 7.59 units. In this way, it consolidates a retracement of 28.82 in the month of May, the biggest monthly drop since Januarywhen he lost 51.40 pesos.
While, in Argentina, the dollar erased its initial low and closed May on the rise. The parallel dollar stabilized at 204 for purchase and 207 for sale, which kept the gap at just over 72% compared to the wholesale official and almost 65% compared to the retail average. Meanwhile, in the month, the exchange rate closed with an advance of 6.5 Argentine pesos.
On the other hand, the Central Bank had to go back to selling dollars from its reserves in the official foreign exchange market to meet the demand at the end of the month and for energy payments. The entity obtained a negative balance of US$ 190 million after its intervention and cut purchases for the month to US$ 784 million.
Meanwhile, the euro closed the month with an increase of 1.69% and leaves behind four months of losses, as it gains prominence thanks to the expectation of higher interest rates in the Eurozone.
“We must be attentive to the meetings that are taking place in Europe, since it is being considered to raise interest rates due to high inflation, something that would cause the euro to be strengthened, dragging the international dollar to lower its price,” he points out. the senior market analyst of XTB Latam, Daniel Seydevitz.
With Diario Financiero and El Cronista-RIPE