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Uruguay's de-dollarization process is boosted by new money market funds, as investors turn to peso-denominated funds and government bonds.
Uruguayan investors are allocating more wealth to peso-denominated money market funds and government bonds, adding momentum to the country's de-dollarization process aimed at reducing its reliance on the US dollar. At least seven peso-denominated money market funds are operational this year, roughly double the number in 2025. Brokers such as Balanz and Puente, along with fintech companies like MercadoLibre and Prex, have launched these funds to meet the growing demand for local currency savings.
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