He dollar reached its maximum of the year this Friday, trading at 39,651 pesos, accumulating an improvement of 2.21% so far this month and stabilizing in the range of 39 pesos, to such an extent that it is worth asking if it can exceed the levels again. 40 pesos.
This is an unusual period in recent times in Uruguay, where the discussion about exchange delay It became recurring. In fact, the last time the greenback reached that range was on November 1 of last year, when the dollar closed at 40,019 pesos.
To make matters worse, that was the only time it exceeded that value in all of 2023, since to reach a similar mark you have to go back to December 30, 2022, when it closed at 40,071 pesos. That is to say that the us currency It touched that value just twice in the last year and a half.
The behavior of the dollar so far this year
With this course, the dollar accumulates an improvement of 1.61% so far this year and is on its way to its third consecutive monthly increase, after the improvements of 1.24% in May and 2.04% in April, placing it above the value expected by the market, that anticipated the current level only for October and that it would reach 40 pesos by the end of the year, according to the latest Economic Expectations Survey of the Central Bank of Uruguay.
He interbank recovered from the sharp drop in March, which reached 3.83%, while in February (0.30% drop) and January (0.36% increase), it operated with relative stability.
Thus, it seems to have left behind the moments of anxiety between the end of March and the beginning of April, with six consecutive days in the range of 37 pesos and touching its lowest value of the year on March 26, when it closed at 35,507 pesos.
DOKGRA.jpg
A global trend that accompanies
On the other hand, the global dollar has been growing and hit an eight-week high against the and in, in line with data that showed a strong US economy and the expectation that the Federal Reserve (Fed) move forward with an interest rate cut at some point during the year.
Meanwhile, the dollar index, which measures the performance of the US currency against a basket of six major currencies, rose 0.2% to 105.81 units and reached maximum values at the end of April. In addition, it maintained its almost five-week high against the pound sterling, which remains stable at $1.2649.
Added to this is the devaluation of the real, since the behavior of the Brazilian currency is associated with that of the Uruguayan peso. At this moment it accumulates 5 monthly falls and so far in June the dollar strengthened 3.56%, closing at 5.4309 reais.
