In Uruguay, the value of the US dollar has fallen to a new eight-month low, now trading at 37.50 Uruguayan pesos, causing concern within the agricultural sector. The Rural Federation of Uruguay has criticized this 'exchange rate delay,' arguing that for the dollar to align with pre-pandemic levels, adjusted for inflation, it should be valued at 58 Uruguayan pesos. This sector, already suffering from the country's worst drought in 70 years—a disaster costing 3% of the GDP—is now facing increased operational costs and a loss in competitiveness, particularly in the beef market with China. Additionally, the agricultural sector's debt has increased by 48% from January 2022 to January 2024. Despite these challenges, the president of the Central Bank of Uruguay, Diego Labat, insists that the country's floating exchange rate system is functioning as intended, allowing the market to set the dollar's value and dismissing the notion of an 'exchange rate delay.'