Citing a rise in inflation pressures, Uruguay’s central bank hiked its overnight rate to 8.75% in a surprise move. It’s probably completely inaccessible, but the Uruguayan peso is up 50% vs USD in the past 7 years and you’re getting paid incredible rates to hold it.
USD/UYU- 10-years:
It might be the fact that it’s -10-degrees and snowing here but I have an urge to book a flight to Montevideo.
