{"id":1833,"date":"2026-03-27T14:08:29","date_gmt":"2026-03-27T17:08:29","guid":{"rendered":"https:\/\/palmerodespachante.uy\/?p=1833"},"modified":"2026-03-27T14:08:30","modified_gmt":"2026-03-27T17:08:30","slug":"politica-monetaria","status":"publish","type":"post","link":"https:\/\/palmerodespachante.uy\/index.php\/2026\/03\/27\/politica-monetaria\/","title":{"rendered":"POL\u00cdTICA MONETARIA"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>POL\u00cdTICA MONETARIA IMPULS\u00d3 MEJORA DEL TIPO DE CAMBIO REAL EN EL PRIMER TRIMESTRE DE 2026.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">El \u00faltimo Monitor de Coyuntura, la publicaci\u00f3n semanal que difunde el Observatorio de la Coyuntura Econ\u00f3mica de la Universidad Cat\u00f3lica, estuvo enfocado en analizar la evoluci\u00f3n del tipo de cambio al cierre del primer trimestre del a\u00f1o, y espec\u00edficamente en los motivos que lo llevaron a una mejora en el per\u00edodo. Seg\u00fan se detalla, a falta de una semana para el cierre de marzo, se puede estimar entre 4% y 5% la mejor\u00eda en el TCR extrarregional al cabo del bimestre febrero-marzo. \u201cEllo se debe principalmente a los cambios referidos en la pol\u00edtica monetaria, pero, en marzo, tambi\u00e9n se debe a la apreciaci\u00f3n global del d\u00f3lar ocurrida en ocasi\u00f3n de la guerra en Medio Oriente\u201d, describe el informe. Para estimar cu\u00e1nto del aumento responde a una cosa y cu\u00e1nto a la otra, el informe coteja la evoluci\u00f3n del d\u00f3lar en nuestro pa\u00eds, respecto a su evoluci\u00f3n en el promedio de una canasta de 12 monedas relevantes del resto del mundo. Entre el 23 de enero (viernes anterior al Copom del 26 de enero que baj\u00f3 la TPM en 1%) y el 27 de febrero (viernes anterior al inicio de la guerra mencionada y al Copom del 3 de marzo que baj\u00f3 la TPM en 0,75%), el d\u00f3lar en Uruguay subi\u00f3 un peso, mientras que el \u201cd\u00f3lar canasta\u201d baj\u00f3 20 cent\u00e9simos. Mientras tanto, entre el 27 de febrero y el viernes pasado, 20 de marzo, el d\u00f3lar en Uruguay subi\u00f3 2,3 pesos y el \u201cd\u00f3lar canasta\u201d aument\u00f3 1,1 pesos. Al cabo de esos casi dos meses, el d\u00f3lar subi\u00f3 en nuestro pa\u00eds 3,3 pesos, mientras que en el promedio de las 12 monedas consideradas subi\u00f3 el equivalente a 0,9 pesos. En tal sentido, \u201cse dio un aumento mayor en nuestro pa\u00eds que en el resto del mundo\u201d. \u201cTres cuartas partes del aumento en el precio del d\u00f3lar en el per\u00edodo referido es \u2018aut\u00f3ctono\u2019 y solo un cuarto es \u2018importado\u2019, debido a su comportamiento global\u201d, se\u00f1ala el informe. Se explica que la brecha entre la evoluci\u00f3n del d\u00f3lar ac\u00e1 y afuera da lugar a una mejor\u00eda en el TCR extrarregional en el bimestre, que apunta a quedar entre 4% y 5%, recuperando los niveles del tercer trimestre del a\u00f1o pasado. Ese indicador quedar\u00eda entonces, a marzo, en el 74% de su nivel promedio en lo que va del siglo. En cuanto a la relaci\u00f3n bilateral con los vecinos, la mejor\u00eda es a\u00fan mayor, porque a la depreciaci\u00f3n real de nuestra moneda se suma la apreciaci\u00f3n real de las suyas. En el caso de Argentina, donde el d\u00f3lar est\u00e1 \u201cplanchado\u201d y la inflaci\u00f3n ronda el 3% mensual, la mejor\u00eda se ubica en torno a 15% en el bimestre, acerc\u00e1ndose al m\u00e1ximo de mayo pasado. Con Brasil, mientras tanto, la mejor\u00eda alcanza al 7% en el bimestre. (Cr\u00f3nicas<\/p>\n","protected":false},"excerpt":{"rendered":"<p>POL\u00cdTICA MONETARIA IMPULS\u00d3 MEJORA DEL TIPO DE CAMBIO REAL EN EL PRIMER TRIMESTRE DE 2026. El \u00faltimo Monitor de Coyuntura, la publicaci\u00f3n semanal que difunde el Observatorio de la Coyuntura Econ\u00f3mica de la Universidad Cat\u00f3lica, estuvo enfocado en analizar la evoluci\u00f3n del tipo de cambio al cierre del primer trimestre del a\u00f1o, y espec\u00edficamente en [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[37],"tags":[],"class_list":["post-1833","post","type-post","status-publish","format-standard","category-noticias"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>POL\u00cdTICA MONETARIA - Palmero Despachante de Aduana<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"POL\u00cdTICA MONETARIA - Palmero Despachante de Aduana\" \/>\n<meta property=\"og:description\" content=\"POL\u00cdTICA MONETARIA IMPULS\u00d3 MEJORA DEL TIPO DE CAMBIO REAL EN EL PRIMER TRIMESTRE DE 2026. El \u00faltimo Monitor de Coyuntura, la publicaci\u00f3n semanal que difunde el Observatorio de la Coyuntura Econ\u00f3mica de la Universidad Cat\u00f3lica, estuvo enfocado en analizar la evoluci\u00f3n del tipo de cambio al cierre del primer trimestre del a\u00f1o, y espec\u00edficamente en [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/palmerodespachante.uy\/index.php\/2026\/03\/27\/politica-monetaria\/\" \/>\n<meta property=\"og:site_name\" content=\"Palmero Despachante de Aduana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/despachantedeaduana.palmero?hc_ref=ARQPWzEmqFz3O_9qTlrxPP6NW-Vf1b4-iJdwH7XdkuWdfarefzfPyjY7DGBCye4mnJs\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-27T17:08:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-27T17:08:30+00:00\" \/>\n<meta name=\"author\" content=\"Javier Palmero\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"Javier Palmero\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/palmerodespachante.uy\\\/index.php\\\/2026\\\/03\\\/27\\\/politica-monetaria\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/palmerodespachante.uy\\\/index.php\\\/2026\\\/03\\\/27\\\/politica-monetaria\\\/\"},\"author\":{\"name\":\"Javier Palmero\",\"@id\":\"https:\\\/\\\/palmerodespachante.uy\\\/#\\\/schema\\\/person\\\/9eabdcdc87fc74d275cc2faf2ce2f732\"},\"headline\":\"POL\u00cdTICA MONETARIA\",\"datePublished\":\"2026-03-27T17:08:29+00:00\",\"dateModified\":\"2026-03-27T17:08:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/palmerodespachante.uy\\\/index.php\\\/2026\\\/03\\\/27\\\/politica-monetaria\\\/\"},\"wordCount\":508,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/palmerodespachante.uy\\\/#organization\"},\"articleSection\":[\"Noticias\"],\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/palmerodespachante.uy\\\/index.php\\\/2026\\\/03\\\/27\\\/politica-monetaria\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/palmerodespachante.uy\\\/index.php\\\/2026\\\/03\\\/27\\\/politica-monetaria\\\/\",\"url\":\"https:\\\/\\\/palmerodespachante.uy\\\/index.php\\\/2026\\\/03\\\/27\\\/politica-monetaria\\\/\",\"name\":\"POL\u00cdTICA MONETARIA - 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