On the last day, the US dollar was paid at the close of 42.62 Uruguayan pesos on average, which meant an increase of 0.26% compared to the previous day's price of 42.51 Uruguayan pesos on average.
Taking into account last week, the US dollar registered an increase of 1.39%; on the contrary, in year-on-year terms, it still accumulates a decrease of 1.3%. Comparing this data with that of previous days, he accumulated two successive sessions in green. The volatility of the last seven days was 4.85%, which is clearly lower than the annual volatility figure (8.86%), which indicates that its price is showing less change than usual in recent dates.
In the annual photo, the US dollar has reached a maximum of 44.73 Uruguayan pesos on average, while its lowest level has been 41.44 Uruguayan pesos on average. The US dollar is positioned closer to its minimum value than to the maximum.
The Uruguayan currency
The peso has been the official circulation currency in Uruguay since 1993 and replaced the old pesos after the country suffered a period of high inflation.
It was from October 29, 1991 that the Central Bank of Uruguay was authorized to issue new banknotes to remove the old Uruguayan pesos equivalent to 1,000 new pesos. The coin began to circulate until March 1993.
A new mechanism was introduced in the 1990s to be able to predict more accurately the value of the peso against the dollar, establishing a floating band method.
Later, in 2002, with Jorge Batlle as president, Uruguay experienced a financial crisis due to capital flight, which made it difficult to control the exchange market until months later it was decided to switch to the independent flotation system, which is the one that has been maintained at the time.
After the 2002 maxidevaluation, a period of currency appreciation followed. It should be noted that the coins use animals and national figures on the back as a design.
In the economic sector, Uruguay has begun to show signs of recovery after the ravages of the coronavirus pandemic. In 2021, the country recovered the 108,000 jobs it had lost in 2020, in addition to 9,000 more jobs.
However, the Uruguayan administration has also taken the decision to raise the tariffs for the most consumed fuels in the country by three pesos, which has also aroused discontent among the Uruguayan people.
Agencies
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