Exchange Rate in Uruguay
Uruguay - Exchange Rate
Uruguayan peso breaks the 30.00 UYU per USD mark in January
On 4 January, the Uruguayan peso broke modern records and breached the 30.00 UYU per USD mark. By 13 January, the peso had continued its depreciatory trend unabatedly and reached 30.65 UYU per USD, marking a 3.2% monthly decrease. The figure is also 24.6% weaker than the corresponding period in 2015. The currency would have witnessed a starker depreciation,, had it not been for the central bank’s efforts to contain the depreciation of the currency.
Uruguay is not alone when it comes to currency pressures, as the recently initiated tightening cycle by the Fed has prompted a steady outflow of capital from emerging markets in the US, strengthening the USD and weakening other currencies. Prices for Uruguay’s agricultural exports, including meat and soya exports, have also fallen, further exacerbating the situation.
The weaker currency has pushed up inflation via higher imported prices, forcing the central bank to act. The Bank’s active foreign exchange reserves have fallen steadily since the beginning of December as it tries to limit volatility in the FX markets. Currently, the Bank still holds ample reserves, however protracted interventions in the FX markets could reduce the country’s fiscal buffers, thereby putting further pressure on the peso.
Panelists surveyed for this month’s LatinFocus report see the peso ending this year at 33.1 UYU per USD. Next year, the panel sees the currency trading at 34.5 UYU per USD.
Uruguay - Exchange Rate Data
|Exchange Rate (vs USD)||21.13||24.37||29.91||29.33||28.83|
5 years of economic forecasts for more than 30 economic indicators.
Uruguay Exchange Rate Chart
Source: Central Bank of Uruguay.
|Exchange Rate||36.72||0.24 %||Sep 04|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
September 18, 2019
Industrial production remained unchanged over the same month of the previous year in July, improving from a 9.9% year-on-year plunge in June, which had marked the sharpest contraction since October 2017.
September 18, 2019
The economy rose a meagre 0.1% year-on-year in the second quarter, contrasting the first quarter’s revised 0.3% dip (previously reported: -0.2% year-on-year), which had marked the first contraction since the 2015 recession.
September 4, 2019
Consumer prices rose 0.9% from a month earlier in August, accelerating marginally from July’s 0.8% increase.
August 5, 2019
Consumer prices rose 0.8% from a month earlier in July, accelerating mildly from June’s 0.6% increase.
July 12, 2019
Industrial production fell 2.5% over the same month of the previous year in May, contrasting a mild 0.4% year-on-year increase in April which had marked a short-lived return to output growth.