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MercoPress, en Español

Montevideo, December 22nd 2024 - 05:57 UTC

Tag: US dollar

  • Wednesday, December 4th 2024 - 09:54 UTC

    Uruguayans do their shopping in Brazil to capitalize on surging US dollar

    Things are usually less expensive on the Brazilian side but the gap has gone wider after recent devaluations of the real

    Uruguayan retailers in cities bordering Brazil have expressed concern after residents increased their tendency to shop abroad in the face of the recent rise in the US dollar. Meanwhile, duty-free shops are looking for strategies to cushion the drop in sales to the Brazilian public, amid fears of a surge in smuggling.

  • Saturday, November 30th 2024 - 10:25 UTC

    Brazil: US dollar pierces R$ 6 barrier

    Brazil's Central Bank (BCB) did not intervene in the exchange rate

    The US dollar closed for the first time above the psychological R$ 6 barrier on another turbulent day in Brazil's markets, Agencia Brasil reported. The local scene continued to reverberate after the spending cut package announced earlier this week by Finance Minister Fernando Haddad, also impacting the stock exchange scene during the day.

  • 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.

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