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MercoPress, en Español

Montevideo, November 14th 2024 - 05:35 UTC

Tag: US dollar

  • Thursday, October 31st 2024 - 10:19 UTC

    BCP intervention keeps guaraní afloat against US dollar

    But Paraguay's economy faces other challenges such as the neverending downspout pushing freight costs upwards

    After an intervention by the Central Bank of Paraguay (BCP) deemed as “timely” in Asunción's financial circles last week, the local currency appreciated against the US dollar and fell further away from the psychological ₲ 8,000 barrier. The BCP pledged to further inject at least US$ 15 million daily into the market, to stabilize the local currency. The dollar went up 9% against the guarani in 2024, largely driven by demand for the dollar in the international market and by local exchange needs.

  • Monday, September 2nd 2024 - 11:38 UTC

    Paraguayan businesses concerned as dollar keeps soaring

    “We fear that this situation will affect the Christmas season,” Caje argued

    Given the seemingly unstoppable soar of the US dollar against the local guaraní during a whole week, the Association of Importers and Traders of Paraguay (Asimcopar) said it feared the current trend might hit year-ending sales, which largely feature imported items.

  • Friday, August 16th 2024 - 09:54 UTC

    Milei outlines his dollarization plan which will add other currencies

    “At some point, there are going to be so many dollars in the economy that, maybe that day, we will be able to close the Central Bank,” Milei explained

    During his appearance at the Expo Real Estate event, Argentine President Javier Milei explained Thursday his currency competition plan and also delved into the matter of closing down the Central Bank, one of his main campaign promises. The head of state also stressed that thanks to the economic adjustment undertaken by his administration a debt rollover for part of 2025 had been guaranteed.

  • Saturday, June 29th 2024 - 09:28 UTC

    Brazil: Dollar soars, unemployment falls

    The last working day of the semester is marked by strong demand for dollars from multinationals sending profits abroad

    The economy in South America's largest country is taking a shaky turn as Friday's figures would indicate. The exchange rate between the local real (R$) and the US dollar (US$) went up 15.15% over the past six months, closing at US$ 1 = R$ 5.58 while the Stock market fell 0.32% for a 1.49% monthly gain. On the brighter side, unemployment in the quarter ending in May stood at 7.1%, according to Brazil's Institute of Geography and Statistics (IBGE), a considerable improvement from February's 7.8% and the yoy 8.3%.

  • Friday, April 21st 2023 - 10:05 UTC

    Argentine peso keeps sinking against US dollar

    The local currency bounced back after it was shown pictures of President Fernández and Minister Massa were disseminated, proving there was no resignation on the radar

    The Argentine peso kept sinking Thursday against the US dollar with the “blue” (a euphemism for “black market”) rate hitting AR$ 440 before closing at AR$ 437/AR$ 432 (buy/sale).

  • Monday, March 6th 2023 - 09:55 UTC

    Massa announces “wine dollar” for Argentine producers

    “We must have more Argentine wine in the world,” Massa said.

    The Government of Argentina announced during the weekend the creation of yet another foreign currency exchange rate; one to be applied particularly to wine exports, effective next month.

  • Saturday, February 26th 2022 - 09:54 UTC

    Russia and China bilateral trade moving to the Yuan, gradually replacing the US dollar

    Yuan already accounts for over 17% of trade settlements between China and Russia and over 12% of Russia's central bank international reserves

    The Ukraine war which has impacted on Russian markets and particularly the plunge of the ruble, should not be a major cause of concern for China-Russia bilateral trade since a growing percentage of business is done with the Chinese currency Yuan, as the two countries move towards de-dollarization, according to financial circles in Beijing.

  • Wednesday, January 19th 2022 - 09:35 UTC

    International market pushes dollar up in Brazil to R$ 5.56

    Higher rates on US bonds encourage the flight of resources from emerging countries

    The commercial dollar traded Tuesday in Brazil at R $ 5.561, a 0.61% increase compared to the previous day after pressure from international markets played their part.

  • Friday, November 5th 2021 - 09:29 UTC

    Argentine Central Bank takes action to keep exchange rate under control

    “The increase is not in the dollar, the increase is in the blue (unofficial) dollar,” Cerruti said

    Argentina's Central Bank (BCRA) Thursday ordered banking institutions nationwide not to increase their holdings in foreign currency until the end of the month, amid a market pressure on the exchange rate.

  • Saturday, September 11th 2021 - 04:55 UTC

    Inflation in Chile reached 3,2% in eight months and the US dollar 794 Pesos

    Market analysts expect the US dollar to reach 800 Chilean Pesos if the fourth withdrawal of pension funds is finally approved

    The Consumer Prices Index, CPI, in Chile climbed 0,4% during August totaling 3,2% so far this year and 4,8% in the last twelve months, according to the country's stats office. It is the highest since January 2016, and the tendency is to continue increasing, as had been anticipated by the Central Bank. Likewise with the US dollar.

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