After the opening of the trading session, the US dollar traded at the opening at 42.52 Uruguayan pesos on average, which represented an increase of 1.28% compared to the previous day's figure, when it ended with 41.99 Uruguayan pesos on average.
In the last week, the US dollar posted an increase of 0.77%, although, on the contrary, for a year it has still maintained a decline of 1.33%. If we compare the value with previous days, it stops with the flat streak of market quotes of the last two days. The volatility of the last seven days is clearly higher than that accumulated in the last year, presenting itself as an asset with greater alterations than usual.
In the last year, the US dollar has changed by a high of 44.73 Uruguayan pesos on average, while its lowest level has been 41.44 Uruguayan pesos on average. The US dollar is 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 opt for the independent flotation system, which is what has been maintained at the moment.
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
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
The oldest person in the world died at the age of 119
Macabre find in CDMX: they left a body bagged and tied in a taxi
The eagles of America will face Manchester City in a duel of legends. Here are the details
Why is it good to bring dogs out to know the world when they are puppies
