MercoPress. South Atlantic News Agency

Dollar rises in Uruguay while tension increases in Argentine markets

The dollar almost reached $ 35 in the private slates of Montevideo, waiting for what will happen in the markets of the region.

In Uruguay, the dollar traded at noon on the state bank Banco Republica (Brou) board at $ 33.20 for the purchase and $ 34.60 for the sale, 45 cents above the close price on Tuesday. On the board of private exchanges, the currency to the public came to sell at $ 34.80 and $ 34.90.

On the other hand, in neighboring Argentina the dollar was still in demand and on a bad day for emerging currencies it jumped 1.10 in the market to 43.80 pesos, after adding almost 60 cents yesterday in a round in which the rate scratched 67%.

The appreciation of the dollar hits hard all emerging currencies, which is added to the tension shown by the Argentine local market recently. The Brazilian real lost 1.20% of the value against the dollar before the closing of the markets.

In the Argentine retail market, the ticket showed a similar behavior and exceeded the barrier of 44 pesos to sell $ 44.90 pesos on the screens of Banco Nación (BNA) this afternoon.

“The problem is that we only add to the external context when it's bad, when we favor it we see it go far,” said Christian Buteler in a conversation with El Cronista.

The pressure on the ticket was maintained even though the Central Bank of Argentina (BCRA) again validated a rate hike. The monetary authority auctioned Leliq for 8 days for 105,251 million pesos at an average rate of 67.271%, above 67.27% of yesterday's monetary policy rate.

The “blue dollar” moved at 42.55 pesos. Gustavo Quintana of Argentine PR Cambios said that “the real falls below 3.91 and the euro somewhat low compared to yesterday” and summarized ”there is candombe (Uruguayan dancing and culture) everywhere, but it seems to us that we infect the rest“. ”There is low volume, with little supply and that highlights the demand”, he figured.