Uruguay: Euro opening rate today September 20 from EUR to UYU

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The euro is one of the most influential currencies in the Uruguayan market.  (Infobae)
The euro is one of the most influential currencies in the Uruguayan market. (Infobae)

After the markets open Euro It will be paid out at the beginning of today 41.14 Uruguayan pesos on averagea 3.57% change from the previous day’s average of 39.72 Uruguayan pesos.

In terms of profitability over the past seven days, the Euro marks an ascent 0.7%; However, there has been a decline over the past year 18.19%. Regarding this day’s volatility in relation to past data, it reverses the result of the previous day when it closed down 1.91%, showing that it has failed to consolidate a stable trend lately. The 7-day volatility is significantly higher than the data obtained for the last year (13.84%) and presents itself as an asset with greater changes than the general trend indicates.

Uruguayan currency

Weight is currency in official circulation in Uruguay since 1993, replacing the old pesos after the country suffered a period of high inflation.

Beginning October 29, 1991, the Central Bank of Uruguay was authorized to issue new notes to remove the old Uruguayan pesos, which were equivalent to 1,000 new pesos. The coin was in circulation until March 1993.

In the 1990s, a new mechanism was introduced to more accurately predict the value of the peso relative to the dollar, establishing a floating bands method.

Later, in 2002, with Jorge Batlle as President, Uruguay experienced a financial crisis Due to the flight of capital, it was difficult to control the foreign exchange market until months later when it was decided to opt for the independent floating system, which remains in place to this day.

After the maxi devaluation of 2002, a period of currency appreciation. It should be noted that the reverse side of the coins uses animals and national figures as a design.

In the economic sphere, Uruguay is showing the first signs Recovering from the ravages of the coronavirus pandemic. In 2021, the country has regained the 108,000 jobs it lost in 2020 and created an additional 9,000 more jobs.

However, the Uruguayan government has also made the decision to increase tariffs on the country’s most commonly consumed fuels by three pesos, which has also caused dissatisfaction among citizens.

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