Uruguay: Uruguayan peso hits multi-year low in July
July 7, 2015
In July, the Uruguayan peso depreciated to its weakest value against the U.S. dollar in over a decade, continuing the general depreciating trend that has been in place since June 2013. The recent depreciation of the Uruguayan currency was mainly driven by increased demand for U.S. dollars, which is putting pressure on the peso. Demand for the U.S. dollar picked up as aversion to riskier currencies rose against the backdrop of the Greek debt crisis.
The Uruguayan peso depreciated against the U.S. dollar and, on 7 July, it traded at 27.1 UYU per USD, which marked a new multi-year low. The figure was 1.2% weaker than on the same day of the previous month and 17.7% weaker in annual terms.