US dollar stays on a slump in Uruguay

US dollar stays on a slump in Uruguay

Saturday, May 1st 2021 – 08:04 UTC

This is the longest streak of losses since December 2019

The US dollar kept its downward trend against the Uruguayan peso Friday, closing at US $ 1 = UR $ 43.8 for interbank operations, it was reported. In Brazil, the exchange rate fell 0.7% Friday and stood at 5.44 R$ per dollar.

The new rate means a 0.6% fall for an accumulated decrease of 1.26% in the end-to-end measurement and almost 3.5% in 2021, marking the longest streak of losses since December 2019, when it had fallen for 10 consecutive days.

A total of 54 transactions were recorded at Montevideo’s Electronic Stock Exchange (Bevsa), worth US $ 24.7 million.

But at retail levels, the dollar went up slightly Friday, extending its rise after strong economic data in the United States, on a day in which investors took gains on short positions of the greenback in the month. The dollar index, which compares the greenback to a basket of six relevant currencies, gained 0.5% to 91,263 units, its biggest daily gain since late February.

This week Federal Reserve Chairman Jerome Powell announced that he will keep the US benchmark interest rate in the range of 0% and 0.25%. The entity will continue to buy assets for at least US $ 120,000 million per month.

The Dow Jones index accumulated a fall of 0.5% in the week, the Nasdaq 0.4% and the S&P 500 remained unchanged; while the 10-year US Treasury bond yield closed at 1.63%.

In Europe, the Eurostoxx 50 index fell 1%, the yield on the German 10-year Treasury closed at -0.2%, and the euro fell 0.7% to $ 1.2 per euro, according to the report by Bridge signature.

In commodities, the price of a barrel of Brent oil – Ancap reference – increased 1.7% and closed at US $ 67.3, the ton of soybeans increased 2% and reached US $ 577.2 and the ounce of gold decreased 0.5%, up to US $ 1,767.3.

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