After a stability in May, and recently started June we see a consecutive week down, the dollar fell 0.7% and moderated its annual appreciation to 2.9%.
Today’s price is: $ 42.30 for the purchase, $ 44.70 for the sale, making an interbank average of $ 43,526, trading $ 1 less than in March.
Isaac Alfie (director of the OPP) explained why this recent decline in the dollar is due, he considered two main reasons.
He first spoke about the strong appreciation of raw materials in international markets and in a second place he highlighted the arrival of capital for investments
Because most agricultural products, which are used for export, have shown a significant rise in recent months, regarding this he commented: “The strongest variables in the short term are capital movements, and in the medium term, the ability of the economy to compete. What happens with export prices that grow, their average competition capacity improves “
Uruguay is not the only country in Latin America that is experiencing this decline in the dollar, so is neighboring Brazil. It reached a price of 5.7 reais and is currently at 5.3.
At the international level, what was the inflation of the previous week in the United States, what is expected is that said inflation exceeds 4.7%, in this case the Federal Reserve will have to decide what to do in terms of monetary policy and in this way be in the situation of starting the tapering debate (gradual withdrawal of economic stimuli).
Source: El Observador