Last day the euro was paid at the close of 47.08 Uruguayan pesos on average, which meant a 1.15% increase compared to the price of the previous day, when it was 46.55 Uruguayan pesos on average.
Compared to last week's profitability, the euro accumulated a rise of 1.77%; but for a year it has still fallen by 11.4%. If we compare the value with previous days, it chained four successive sessions in positive. The volatility figure showed a somewhat higher balance than the volatility shown in the last year's data, so it is going through a phase of instability.
In the annual photo, the euro has reached a maximum of 50.89 Uruguayan pesos on average, while its lowest level has been 45.65 Uruguayan pesos on average. The euro is positioned closer to its minimum value than to the maximum.
The Uruguayan currency
The peso has been the official circulation currency in Uruguay since 1993 and replaced the old pesos after the country suffered a period of high inflation.
It was from October 29, 1991 that the Central Bank of Uruguay was authorized to issue new banknotes to remove the old Uruguayan pesos equivalent to 1,000 new pesos. The coin began to circulate until March 1993.
A new mechanism was introduced in the 1990s to be able to predict more accurately the value of the peso against the dollar, establishing a floating band method.
Later, in 2002, with Jorge Batlle as president, Uruguay experienced a financial crisis due to capital flight, making it difficult to control the exchange market until months later it was decided to switch to the independent flotation system, which is the one that has been maintained today.
After the 2002 maxidevaluation, a period of currency appreciation followed. It should be noted that the coins use animals and national figures on the back as a design.
On the economic front, Uruguay has begun to show signs of recovery after the ravages of the coronavirus pandemic. In 2021, the country recovered the 108,000 jobs it had lost in 2020, in addition to 9,000 more jobs.
However, the Uruguayan administration has also taken the decision to raise the tariffs for the most consumed fuels in the country by three pesos, which has also aroused discontent among the Uruguayan people.
Agencies
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