The euro is paid at the opening at 47.01 Uruguayan pesos on average, which implied an increase of 0.98% compared to 46.55 Uruguayan pesos on average the previous day.
Taking into account last week, the euro posted an increase of 1.61%; although for a year it has still maintained a decrease of 11.54%. In relation to past days, add four dates in a row in green. The volatility figure is subtly higher than the data achieved for the last year (9.1%), so it shows greater alterations than the general trend in value.
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 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 citizens.
Agencies
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