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Economy / Uruguay

Macroeconomic Forecast Uruguay

January 2011 | Macroeconomic Forecasts

BMI View: We believe that the appreciatory pressures that saw the Uruguayan peso strengthen from an average exchange rate of UYU21.85/US$ in 2009 to UYU19.90/US$ in 2010 will remain firmly in place in 2011 as strong domestic economic activity and the country's impressive business environment continue to draw in foreign investment. Although we cannot rule out the prospect of intervention in a bid to cap further strength, we expect the currency to appreciate further against the greenback, averaging UYU18.40/US$ over the course of 2011.

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