US Dollar Slightly Declines to $38 After Four Days of Gains

US Dollar Slightly Declines to $38 After Four Days of Gains

The US dollar experienced a slight decrease of 0.02% compared to last Wednesday, closing at 38.240 Uruguayan pesos according to the official exchange rate by the Central Bank of Uruguay (BCU). This marks a break from four consecutive days of increases.

Despite today’s dip, the US dollar has seen a monthly increase of 1.83% in April, yet it has faced an annual decrease of 2% after dropping 0.78 pesos since the last trading day of 2023.

President Luis Lacalle Pou has recently assured national business leaders that “the dollar is where it needs to be,” aiming to quell speculation about a possible intervention in the exchange market by the BCU in response to the “exchange delay” demanded by agricultural exporters and industrial sectors.

In this context, Minister of Livestock, Agriculture, and Fisheries (MGAP), Fernando Mattos, stated that although the ministry understands the agricultural sector’s concerns, it would “not be reasonable” to adjust the exchange rate to 58 pesos to enhance competitiveness, as requested by the Rural Federation.

At the reference board of the Banco República (BROU), the retail cash dollar was quoted at 37.15 pesos for buying and 39.55 pesos for selling. The preferred eBROU Dollar rate was at 37.65 pesos for buying and 39.05 pesos for selling.

The closing exchange rate at the Uruguay Electronic Stock Exchange (Bevsa) was 38.350 pesos, with the day’s high also at 38.350 pesos, and the low at 38.150 pesos. Today saw a total of 45 transactions, with an operation volume of 24 million dollars.

The cryptocurrency Tether (USDT), which is pegged 1 to 1 with the dollar, was quoted today at an average of 39.87 pesos for online purchases via bank or card, and between 40.20 pesos and 42.09 pesos in the Binance peer-to-peer (P2P) market.

The Prex dollar rate was at 38.21 pesos for buying, and 38.59 pesos for selling.

The dollar’s performance over the past five days:

March 26 — 37.507
March 27 — 37.552
April 1 — 37.857
April 2 — 38.122
April 3 — 38.247