Euro: Today, March 16, Uruguay's cigars

The euro is trading at 46.87 Uruguayan pesos, which means an increase of 46.26 compared to the 1.3% Uruguayan peso the previous day.

Over the past 7 days, the euro has risen 1.09%. However, over the course of the year it still fell 12.16%. Comparing this value with the previous date, the result of a decrease of 0.7% was reversed, proving that it was not possible to establish a trend recently. The recent volatility is higher than the figure achieved last year (9.17%) and appears as an asset with greater fluctuation than expected.

Last year, the euro changed to 50.89 Uruguayan pesos and the lowest level was 45.65 Uruguayan pesos. The euro is closer to the minimum value than the maximum value.

The Uruguayan peso peso

was the official currency of circulation in Uruguay since 1993 and replaced the old peso after going through a period of high inflation.

As of

October 29, 1991, the Central Bank of Uruguay was authorized to issue new banknotes to eliminate the old Uruguayan pesos, which were equivalent to 1,000 new pesos. Coins began to circulate until March 1993.

In the 1990s, a new mechanism was introduced that allowed a more accurate prediction of the value of the peso against the dollar, establishing a floating band scheme.

Later, with Jorge Batlle as president in 2002, Uruguay suffered a financial crisis due to capital flight, and until a few months later it was difficult to control the exchange market. It was decided to switch to an independent flotation system that was maintained at the time.

After the 2002 maxi assessment, a period of currency rise has continued. It should be noted that the coin uses animal and national figures on the back as a design.

In the

economic sphere, Uruguay began to show signs of recovery after the destruction of the coronavirus pandemic. In 2021, it recovered 108,000 jobs and 9,000 more jobs lost in 2020.

However, the Uruguayan administration also decided to raise tariffs on the most consumed fuel in the United States by 3 pesos, which caused discontent among the Uruguayan people.

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Agencies