Uruguay’s de-dollarization effort is gaining momentum as investors place more wealth in peso-denominated money market funds and government bonds. Multiple reports say the change reflects growing demand for local-currency instruments rather than assets priced in or tied to the US dollar.
The move occurs in a broader push by Uruguay—often described as a regional safe haven—to reduce reliance on the dollar. Bloomberg and Buenos Aires Times both link the increased peso allocation to the introduction or expansion of money market funds, suggesting these products are helping channel additional investor demand into pesos.
While the core developments are the same across outlets, the coverage emphasizes different framing: Bloomberg highlights the market impact and momentum behind de-dollarization, while the Buenos Aires Times report mirrors the same thesis in more direct terms. Across both, the central point is that more investors are using peso-based vehicles and government debt to manage exposure, supporting Uruguay’s long-term efforts to diversify away from dollar dependence.
