Tag: Uruguayan peso
Uruguayan pesoUruguayan exports in first quarter down 13% compared to a year ago
Uruguayan exports of goods in March continued falling thus closing a discouraging first quarter, according to Uruguay XXI, the country’s agency responsible for promoting trade and investment in the country.
Record purchase of US dollars to keep Uruguayan Peso from further appreciation
Uruguay’s Central bank on Wednesday made its largest purchase of US dollars on record totalling 120 million dollars following on the bank’s monetary committee decision in the last week of 2012 to increase the basic rate to 9.25% as the country struggles to contain inflation.
Increase of non resident deposits in Uruguayan banks
The number of bank accounts of non residents in Uruguay climbed 14% in June compared to a year ago, --6.769 new clients--, which is higher than the increase verified for the whole number of residents and non residents, up 2%, according to Uruguay’s central bank data.
Uruguay lost competitiveness for sixth month running in April with main trade partners
External competitiveness of Uruguayan goods dropped for the sixth month running in April because locally produced goods’ prices in US dollars dropped less than those of its main trade partners according to figures released by the Central bank.
Uruguayan 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.
