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Montevideo, May 23rd 2018 - 15:12 UTC

The dollar falls in Argentina while in Uruguay the rise “does not worry”

Thursday, May 17th 2018 - 09:10 UTC
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After the rise, the currency was shown at 31.50 Uruguayan pesos for sale on the slates. However, he was flirting with the $ 32 during the previous day. (Photo: Sebastián Astorga) After the rise, the currency was shown at 31.50 Uruguayan pesos for sale on the slates. However, he was flirting with the $ 32 during the previous day. (Photo: Sebastián Astorga)
Bergara said that the rise “does not bother” and will not have an impact on inflation Bergara said that the rise “does not bother” and will not have an impact on inflation

The recent rise of the dollar in Argentina had some impact in Uruguay, where it has an accumulation of 7.4% in May. However, for the president of the Central Bank of Uruguay, Mario Bergara, the escalation only owes 20% to the exchange rate in Argentina and rather considers that Uruguay is accompanying global trends.

After a strengthening of 1.12% during the beginning of the week, the currency suffered a slight drop during the day on Wednesday, when it was shown at $ 31.50 for sale on the screen of state owned Banco República at noon. On the other hand, the retail dollar started the day in Argentina with a drop of 20 cents on the screens of Banco Nación (BNA) and operated at 24.30 Argentine pesos.

Bergara said that the rise “does not bother” and will not have an impact on inflation; He pointed out the strengths and the lower exposure that Uruguay achieved with respect to its neighbors since the last financial crisis in 2002. However, he admitted that the Central Bank monitors with “attention and concern” what happens in the neighboring shore for economic health region of.

The bank director acknowledged before the Observer that in recent days “a little strong” rises in the dollar, did not occur in an uncontrolled manner. “It's not here that the dollar has jumped from $ 28 to $ 35,” he said.

The Argentine Central Bank (BCRA) could not avoid stopping the pace of accelerated devaluation despite the aggressive move in which it came out offering US $ 5,000 million to contain the exchange rate run.

The Argentine presidency indicated that the US president, Donald Tump, communicated with the Argentine president, Mauricio Macri, and expressed his support for the talks that Argentina will have with the International Monetary Fund (IMF). “Macri thanked him for the expressions of support from the undersecretary of the Treasury, David Malpass, and Trump confirmed his support for the talks with the Fund,” the Argentine presidency said.

Argentina faces the start of negotiations with the IMF with the challenge of reducing the fiscal deficit.

Categories: Economy, Argentina, Uruguay.

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