Uruguay Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
Uruguay's real effective exchange rate was 128.79 in 2024, ranked 98th globally. This represents a 1.0% increase from 2023. Data from BIS, covering 1980–2024.
Overview
Uruguay's real effective exchange rate stood at 128.79 in 2024, a rise of +1.22 from 2023. Based on recent trends, this figure is projected to reach 136.40 by 2025. Uruguay ranked 98th globally.
Uruguay’s real effective exchange rate (REER) rose to 128.79 in 2024, placing the country 98th in the global ranking and matching the all‑time peak recorded that same year after a 45‑year series that began at 106.38 in 1980. The index’s lowest point occurred in 1990, when it fell to 62.92, reflecting a period of pronounced currency depreciation that preceded the gradual appreciation of the subsequent three decades. Uruguay’s 2024 REER is closely aligned with the figures of its peers, such as Trinidad and Tobago’s 128.43 and Argentina’s 129.72, indicating that its external competitiveness is comparable to other small, open economies in the region. The upward trajectory since the 1990 trough suggests a sustained strengthening of Uruguay’s currency basket, driven by modest inflation differentials and stable fiscal conditions. Continued external shocks or divergent monetary policies could alter this path, but absent such disruptions the REER is likely to remain near its recent peak.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 148.77 | - | - |
| 2026* trend | 142.59 | - | - |
| 2025* trend | 136.40 | - | - |
| 2024 | 128.79 | +1.22 | #98 |
| 2023 | 127.57 | +9.45 | #97 |
| 2022 | 118.12 | +11.92 | #91 |
| 2021 | 106.21 | −2.34 | #81 |
| 2020 | 108.54 | −5.25 | #85 |
| 2019 | 113.80 | −3.71 | #90 |
| 2018 | 117.50 | +1.78 | #94 |
| 2017 | 115.72 | +6.92 | #93 |
| 2016 | 108.80 | +1.42 | #83 |
| 2015 | 107.38 | +0.56 | #81 |
| 2014 | 106.82 | −4.26 | #85 |
| 2013 | 111.09 | +6.28 | #93 |
| 2012 | 104.81 | +2.74 | #79 |
| 2011 | 102.07 | +2.07 | #80 |
| 2010 | 100.00 | +9.91 | #96 |
Detected Pattern
Analysis
Uruguay matched the Stagflation Risk pattern in 2020. Historically, 38% of countries showing this pattern (117 out of 307) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
Uruguay's real effective exchange rate was 128.79 in 2024. Ranked 98th globally. This represents a 1.0% increase from the previous year.
Uruguay's real effective exchange rate peaked at 128.79 in 2024.
The lowest real effective exchange rate in Uruguay was 62.92 in 1990.
Uruguay ranks 98th globally in real effective exchange rate as of 2024.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
Uruguay's real effective exchange rate is projected to reach 136.40 by 2025 based on trend extrapolation.
The real effective exchange rate of Uruguay in 2024 was 128.79. This ranks 98th in the world.
Cite this page
@misc{historysaid_uruguay_reer,
title = {Uruguay Real Effective Exchange Rate},
url = {https://historysaid.com/uruguay/reer/},
publisher = {HistorySaid},
year = {2026}
}