The dollar fell in the Uruguayan exchange market for the fourth consecutive day and it is once again established in the $39 range in the interbank market. This Tuesday the 15th, the Monetary Policy Committee (Copom), after which it is expected that the Central Bank of Uruguay (BCU) raise the interest rate again by 0.5% in order to anchor the inflationary expectations of economic agents to the current target range (3%-6%).
The average interbank dollar was located at $39.71 this Tuesday, with a drop of 0.35% compared to Monday. The last operation of the day was agreed at $39.78 (-0.1%). On the public board of BROU, the dollar was at $38.60 for purchase and $40.80 for sale.
So far in November, the exchange rate has accumulated a 2.2% drop against the Uruguayan peso and of 11.15% in the year. The dollar had already closed October with an end-to-end depreciation of 2.7%.
Uruguayan exporters and industrialists have expressed their concern about the current trajectory of the exchange rate in Uruguay. This Monday, in celebration of Industry Day and the anniversary of the chamber, the president of that union, Alfredo Antía, made some assessments of the dollar price and its impact on the sector.
“The dollar in Uruguay does not follow (the course) that it has in most of the countries with which we compete. We know what that reality implies when the exchange rate delay settles and takes time to get out of that situation. I know affect margins and also investment expectations. So, yellow lights come on on the dashboard, ”he warned in his speech. The president participated in the anniversary act Luis Lacalle Pouthe Secretary of the Presidency, Álvaro Delgado, and the Minister of Industry, Omar Paganini, among other leaders
On the other hand, the president of the CIU showed a difference with the Central Bank (BCU) on the evolution of the profitability of the sector. “We disagree with your interpretation of the sector’s profit margin; it is higher than what we diagnose following the balance sheets of the companies in historical series”, he maintained.
The neighbors
This Tuesday the dollar in Brazil also lost footing (-0.7%) against the real, which was trading at 5.3 units per greenback.
On the opposite sidewalk, andn Argentina the blue dollar shoots up and breaks a nominal maximum in the era of Sergio Massa as Minister of Economy. The blue dollar is trading this Tuesday at A$298 for buys and A$302 for sells, after shooting up to A$9 in the first rounds of the day. The Central Bank (BCRA) had to sell dollars from its reserves again this Monday. After its intervention in the official exchange market, the entity ended the day with another negative result of US$100 million, accumulating a total of net sales for the month of more than US$860 million.
