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Montevideo, December 8th 2021 - 00:21 UTC

Tag: Uruguayan peso

  • Wednesday, January 20th 2021 - 01:27 UTC

    IMF: Uruguay advances important reforms amid the pandemic

    The Uruguay Central bank has announced the intention to lower the inflation target upper bound from 7 to 6 percent by September 2022.

    By S. Pelin Berkmen, Dmitry Gershenson, Luis Herrera Prada, and Jose Torres - Despite the ongoing crisis, Uruguay is taking important steps to address preexisting macroeconomic conditions and lay the foundation for a more resilient, competitive, and stable economy.

  • Thursday, September 24th 2020 - 09:31 UTC

    Argentine currency worthless in Uruguay

    On Wednesday Uruguay's leading bank, which belongs to the State, Banco Republica, was offering ten cents for each Argentine Peso, and selling for 55 cents.

    For the second day running the Argentine Peso was virtually worthless in neighboring Uruguay foreign exchange houses. On Tuesday the Argentine Peso was worth zero, and on Wednesday there was a modest ten Uruguayan cents offered for the battered Argentine currency.

  • Wednesday, March 27th 2019 - 20:54 UTC

    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.

  • Wednesday, May 9th 2018 - 20:19 UTC

    US Dollar rises: Uruguay behind Argentina

    The exchange houses in the center of Montevideo today marked up to 31.70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday - the highest in five years. Photo: Sebastián Astorga

    After several days up in Argentina, the devaluation of the Argentine peso and the rise of the US dollar have had some impact on the other side of the River Plate, where the exchange houses of downtown Montevideo marked on Wednesday the value of the currency up to 31,70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday —the highest in five years—. For the Uruguayan government, the country follows the global trend and calls for calm, beyond the noise generated in Argentina, which is beginning a dialogue between the Finance Minister, Nicolás Dujovne, and the International Monetary Fund (IMF) in Washington.

  • Wednesday, September 23rd 2015 - 07:17 UTC

    Uruguay pumps greenbacks to keep the US dollar rate on sliding stability

    The Uruguayan central bank was forced to sell almost 65 million dollars to keep the US currency in the range of government's target

    Uruguay's central bank was forced to sell almost 65 million dollars on Tuesday, the highest volume so far this year, to keep the US dollar from ballooning as fears of the collapse of the Brazilian economy are felt through the region. The dollar finally ended trading with a slight 0.12% increase at 28,826 Pesos to the greenback.

  • Saturday, July 5th 2014 - 09:13 UTC

    Uruguay's inflation index for June slightly down: 9.08% in twelve months

    July could be a month of surprises but the power company, government owned has anticipated rates will be down 5.5% because of abundant rainfall

    Uruguay's inflation index experienced a slight deceleration during the twelve months to June, from 9.18% in May to 9.08%, basically because of cheaper fresh food, frozen public utility rates including fuel, while a stabilized exchange rate for the US dollar with a strong Peso, helped with imported goods.

  • Monday, December 2nd 2013 - 19:49 UTC

    Inflation and competitiveness, Uruguay's main challenges for next year and a slower growing economy

    Economist Schandy, the risk that inflation could become two digits, is not discarded

    Inflation and competitiveness are the two main macroeconomic challenges faced by Uruguay and does not anticipate an easy 'soft landing', at 3% growth rates in coming years, according to Deloitte during a conference on “Prospects for 2014 and economic challenges for the next government”.

  • Monday, November 18th 2013 - 18:33 UTC

    Astori forecasts Uruguay's inflation in the range of 3 to 7% in the next two years

    Uruguay's Vice-president argues that the current foreign exchange policy has helped contain the impact of volatility

    Vice-president Danilo Astori confirmed that Uruguay will continue with its current flexible foreign exchange policy, because “this has helped us reduce volatilities”, but also admitted concern about inflation, the third highest in South America and fourth in Latin-American and the Caribbean.

  • Tuesday, July 30th 2013 - 03:07 UTC

    Uruguay needs ‘a dollar at 25 Pesos’ if it wants to remain competitive warn economists

    Bilateral real exchange rate with the US is at its lowest since 2013, which means we are expensive in dollars in the whole region, said Oddone

    Uruguay is too expensive in dollar terms and needs to adapt quickly because the adjustment will come anyway ‘and will be painful’ unless inflation is brought under control and costs equilibrium is reached with Brazil with a competitive dollar at 25 Pesos.

  • Tuesday, April 2nd 2013 - 05:30 UTC

    Uruguayan exports in first quarter down 13% compared to a year ago

    Minister Kreimerman admits that the over valuation of the Uruguayan currency has a negative impact on regional exports

    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.

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