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Uruguay's central banker starts crusade against dependence on U.S. dollar
By Ken Parks
Bloomberg News
Friday, December 26, 2025
Uruguay's central bank chief wants to convince savers in one of Latin America’s most dollarized nations that their love affair with the U.S. currency is bad for both the economy and their pocketbooks....
Starting next year, Guillermo Tolosa plans to implement measures to boost the use of the Uruguayan peso as part of a strategy to develop a domestic capital market that could benefit local borrowers -- from corporates and individuals to the government itself. Tolosa plans to speak with press today to discuss monetary policy and the central bank's de-dollarization plans.
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The first steps will include higher capital requirements on banks for some dollar loans along with eliminating reserve levels for some deposits in pesos to encourage banks to give more loans in the local currency. Other measures under consideration include requiring businesses that price goods in foreign currencies to also list prices in pesos. ...
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