In recent days, USD reached its lowest value since the beginning of the current administration (March 2020). In 2021, the USD dropped by 13%, despite trend in other parts of the world.
As a result, the Uruguayan peso was among currencies that rose the most against USD at the international level. One of the causes is that the Central Bank of Uruguay (BCU) has recently systematically increased its interest rate.
It is a policy that intends to keep pressure off internal demand and curb price rise and inflation.
Uruguayans, on the other hand, are questioning the growing gap between Uruguay´s costs in USD and their balance value and the impact it is beginning to have on the production sector.
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