On the last day, the euro traded at the close at 46.95 Uruguayan pesos on average, an increase of 1.12% compared to 46.43 Uruguayan pesos on average the previous day.
Compared to the last seven days, the euro recorded an increase of 1.98%; on the contrary, in the last year it still has a decrease of 12.02%. Analyzing this data with that of previous days, the direction of the previous data changed, in which a decrease of 0.27% was recorded, being unable to establish a trend recently. In reference to the volatility of the last week, it showed a somewhat lower performance than the volatility shown in the last year's figures, so that in this last phase it is trending less than the general trend indicates.
In the annual photo, the euro has even changed by a maximum of 50.89 Uruguayan pesos on average, while its lowest level has been 45.65 Uruguayan pesos on average. The euro is placed closer to its minimum than its maximum.
The Uruguayan peso
The peso has been the official currency of circulation 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.
In the 1990s, a new mechanism was introduced to better predict the value of the peso against the dollar, establishing a system of floating bands.
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 opt for 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.
In the economic sphere, 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 increase tariffs for the most consumed fuels in the country by three pesos, which has also aroused discontent among citizens.
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Agencies