Investor Presentaiton
Floating exchange as a shock absorber; Central Bank intervenes
on both sides of the market to smooth out undue volatility
Currency performance vs USD since Covid-19 world outbreak
(Percent change since February 19th, as of July 9th, 2020)
Brazilian Real
Mexican Peso
Argentine Peso
Uruguayan Peso
Turkish Lira
Russian Ruble
Colombian Peso
Indonesian Rupiah
Indian Rupee
Peruvian Sol
Malaysian Ringgit
Chinese Renminbi
Singapore Dollar
Chilean Peso
New Zealand Dollar
Japanese Yen
Australian Dollar
Euro
Exchange rate and Central Bank FX intervention
Spot market interventions (in
USD millions)
Nominal exchange rate
(pesos per dollar, right axis)
150
14.7
100
Year-end market
expectation 1/
46
45
44
42
42
Dollar Purchases
50
40
40
0
-50
-100
Aug-18
Mar-19
Dollar Sales
Oct-19
38
36
34
=4
32
22
30
28
May-20
Dic-20
1/ Median expectation in Central Bank's market survey as of June 2020
-10
-505 10
15
20 25
-150
Jan-18
Apreciation
Depreciation
Source: Bloomberg; Central Bank of Uruguay
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