He euro was paid upon completion Average 46 Uruguayan pesoswhich marked a change of 1.38% compared to the previous session’s 45.37 pesos, it said Dow Jones.
Based on last week, the euro recorded an increase of 1.4%, so there is still a cumulative increase over the last year 2.98%.
There have been significant fluctuations in the value of this asset over the past few days. In the last seven days, volatility has been significantly lower than in last year’s data, so we can say that it is in a period of greater stability recently.
2024 was a year of recovery for the Uruguayan economy after a critical year.
The country is experiencing significant growth driven by economic stability, tax advantages and strategic infrastructure. Which areas of the neighboring country are leading in expansion, what is the profitability and what are the rental prices?
This development is due to economic stability, tax advantages and a strategic infrastructure that positions the country as an attractive destination for companies from across the region, particularly from Argentina.
Uruguay’s logistics sector is controlled by a small group of developers, mostly owners of industrial parks, according to an analysis by consultancy CBRE. This situation creates a structured environment with high occupancy in the main parks and significant expansion potential in key areas such as Canelones and Montevideo.
The peso has been the official currency in Uruguay since 1993, replacing the old pesos after the country suffered a period of high inflation.
On October 29, 1991, the Central Bank of Uruguay was authorized to issue new banknotes to replace the old Uruguayan pesos, which were equivalent to 1,000 new pesos. The currency began circulating by March 1993.
In the 1990s, a new mechanism was introduced to more accurately predict the value of the peso relative to the dollar, namely a floating band method.
Later, in 2002, with Jorge Batlle as president, Uruguay experienced a financial crisis due to capital flight, which made it difficult to control the foreign exchange market until months later when it was decided to switch to the independent floating system, which is maintained to this day.
After the maximum devaluation in 2002, a phase of currency appreciation followed. It should be noted that the coins use animals and national figures as motifs on the reverse.
Economically, Uruguay stands out in Latin America for its high per capita income, low inequality and poverty, with 60% of the population belonging to the middle class.
The challenges facing Uruguay include improving its competitiveness and long-term growth, including women in economic activities and transforming education.
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