On the last day American dollar Negotiated at closing 37.80 Uruguayan pesos on averageThis represents a change of 2.16% compared to the previous day’s price, when it recorded 37 pesos.
And in the last seven days American dollar Record a decrease in 0.13%; On the other hand, a year ago still maintains an increase in 2.24%.
Regarding the variations witnessed today compared to previous days, it maintained fluctuating results that do not allow us to determine a clear trend. Regarding the volatility in recent days, it has been higher than that accumulated in the past year, so it presents a more unstable behavior.
The Uruguayan government plans to resume economic growth by 2024 with the export of goods and services as a driver of these positive effects after recording a decline in GDP in the first two quarters of the year.
In the first week of the year, the dollar started in positive territory and remained approximately in the same range as at the end of 2023, according to data from the Central Bank of Uruguay (BCU). Economists expect 2024 to be characterized by a weakening of the US currency due to cuts made by the US Federal Reserve.
The peso is the currency It has been officially in circulation in Uruguay since 1993 and replaced the old peso after the country suffered a period of high inflation.
It was as of October 29, 1991 when the Central Bank of Uruguay was allowed to issue new banknotes to remove the old Uruguayan peso which was equivalent to 1,000 new pesos. The coin was in circulation until March 1993.
In the 1990s, a new mechanism was introduced to more accurately predict the value of the peso relative to the dollar, creating a system of floating bands.
Later, in 2002 with Jorge Battle as president, Uruguay experienced a financial crisis Due to capital flight, it was therefore difficult to control the exchange market until months later when it was decided to choose an independent float system, which is the system that is currently maintained.
After the 2002 currency cap, period Currency appreciation. It should be noted that the coins use national animals and characters on the reverse as a design.
On the economic level, Uruguay stands out in Latin America due to its high per capita income and low levels of inequality and poverty, with 60% of its population belonging to the middle class.
Among the challenges facing Uruguay are: Improve your competitiveness Long-term growth, inclusion of women in economic activities, and transformation of education.
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