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Stock Market / Finance in Uruguay

  • Uruguayan peso breaks the 30.00 UYU per USD mark in January

    URUGUAY, 2016/01/16 On 4 January, the Uruguayan peso broke modern records and breached the 30.00 UYU per USD mark. By 13 January, the peso had continued its depreciatory trend unabatedly and reached 30.65 UYU per USD, marking a 3.2% monthly decrease. The figure is as well 24.6% weaker than the corresponding period in 2015. The currency would have witnessed a starker depreciation,, had it not been for the central bank’s efforts to contain the depreciation of the currency.

  • Uruguay approves IMF test

    URUGUAY, 2014/03/01 “Increase is a little bit slower because of the impacts that come from neighboring nations,” said Shinohara. However, “we think the economic situation in Uruguay is solid.” The International Monetary Fund lowered its estimate for economic increase in Uruguay this year to 3% from its previous estimate of 3.3%, the IMF's deputy managing director said on Friday in Montevideo. Naoyuki Shinohara told reporters that the revision is due to lower increase expected in Uruguay's neighbors Argentina and Brazil and lower prices for commodities and Uruguayan exports. Last October the IMF estimated gross domestic product would expand by 3.3%.

  • Uruguay's Economy Minister Fernando Lorenzo

    URUGUAY, 2013/07/16 “We need a lot additional clarity with respect to the direction of policies, particularly from the US which determines the behaviour of markets; I think that in the coming weeks, months there will be better clarity to that respect”, said Lorenzo in a piece published by the Wall Street Journal. Uruguay filed a shelf registration with the US Securities and Exchange committee to sell up to 5 billion in US denominated securities. Economy minister Fernando Lorenzo said the filing will allow the government to issue deficit at the same time as it is convenient for the country and market conditions are favourable. 

  • Uruguay investing hundreds of millions to support the US dollar and exports edge

    URUGUAY, 2013/04/22 The Central bank in the prime three months of the year has purchased additional dollars than in the twelve months of last year, 667 million against 662 million. In the prime quarter of last year the Central bank had bought 366 million dollars or 54% of what has happened in the prime quarter of 2013.

  • The outlook is stable Fitch said

    URUGUAY, 2013/03/11 The outlook is stable Fitch said in a statement praising the conservative nature of Uruguay’s policymakers anticipating it is hopeful of a conservative fiscal policy and prudent fee policy. Standard & Poor's as well rates the country BBB-minus with a stable outlook while Moody's Investors Service rates Uruguay Baa3 with a positive outlook.

  • The Inter-American Development Bank (IDB)

    URUGUAY, 2013/01/02 The new plant with a total cost of 740 million dollars will reduce the vulnerability of the country’s energy system in years at the same time as low rainfall affects hydroelectric generation. The loan will finance construction of the combined-cycle Punta del Tigre “B” power plant, complementary works, and support for an environmental management program for the National Electricity Generation and Transmission Authority (UTE), a decentralized national agency charged with ensuring sustainable electrical service in Uruguay.
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