Tag: Uruguayan peso
Uruguayan pesoUruguayan Peso over-valued 17.4% against the dollar according to Big Mac’s PPP
The Uruguayan Peso is 17.4% over-valued against the US dollar according to the Big Mac index from The Economist which means the greenback should be trading in Montevideo money markets at 21.62 Pesos and not 18.25 Pesos as currently happens.
US dollar looses 1.85% against the Uruguayan Peso in May; 7.44% in five months
The US dollar continues to slide in the Uruguayan foreign exchange market having lost 1.85% in May vis-à-vis the Uruguayan peso, completing the steepest monthly drop so far in 2011.
Uruguay’s public debt to abandon foreign currencies for local Pesos
Uruguay this year plans to swap part of its foreign-currency bonds for debt denominated in Pesos, said Economy Minister Fernando Lorenzo. Uruguay will also sell Peso securities and use the proceeds to pay off bonds denominated in other currencies, Lorenzo said without providing further details.
Uruguay expands record 8.5% in 2010; forecasts 6% this year
The Uruguayan economy completed in 2010 the eighth year running of expansion having recorded 8.5%, which together with 2008 and 1998 makes them the best three years of the last two decades. Uruguay managed to skip the 2009 global recession with a 2.9% expansion.
Uruguayan Government Raises 2010 Economic Growth Forecast to 5.1%
Uruguay’s government raised its 2010 economic growth forecast and said it will focus on health programs, security and infrastructure to maintain expansion of at least 4% annually, Economy Minister Fernando Lorenzo said.
