The euro was paid at the close at 47.50 Uruguayan pesos on average, an increase of 2.67% compared to 46.26 Uruguayan pesos on average the previous day.
Compared to last week's profitability, the euro recorded an increase of 1.89%; on the contrary, last year it maintained a decline of 10.97%. As far as previous dates are concerned, he interrupted with the negative series of quotes from the last two sessions. Over the past week, volatility is significantly higher than last year's figure (9.39%), indicating a more volatile behavior.
Inthe annual photo, the euro reached a maximum of 50.89 Uruguayan pesos on average, while its lowest level was 45.65 Uruguayan pesos on average. The euro is placed closer to its minimum value than to the maximum.
The Uruguayan currency
The peso has been the official currency of circulation in Uruguay since 1993 and replaced the old pesos after the country experienced a period of high inflation.
It was from 29 October 1991 that the Central Bank of Uruguay was authorized to issue new banknotes to withdraw the old Uruguayan pesos equivalent to 1,000 new pesos. The coin began to circulate until March 1993.
In the 1990s, a new mechanism was introduced to better predict the value of the peso against the dollar, establishing a system of floating bands.
Later, in 2002, under the presidency of Jorge Batlle, Uruguay experienced a financial crisis due to capital flight, which made it difficult to control the foreign exchange market until months later it was decided to opt for the independent flotation system, which is the one that has been maintained today.
After the maximum devaluation in 2002, a period of currency appreciation followed. It should be noted that coins use animals and national figures on the reverse side as a pattern.
In the economic sector, Uruguay has begun to show signs of recovery from the ravages of the coronavirus pandemic. In 2021, the country recovered the 108,000 jobs it lost in 2020, in addition to 9,000 additional jobs.
However, the Uruguayan administration has also made the decision to increase the tariffs of the most consumed fuels in the country by three pesos, which has also caused discontent among citizens.
Agencies
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