The Uruguayan peso, the strongest currency in the region: What is the explanation?

In the midst of the global crisis and the tightening of monetary policy throughout the world to contain the inflationthe Uruguayan Peso It is the most appreciated in the region, according to the Bloomberg news agency. The Uruguayan currency overtook the Brazilian real as the best performing currency in South America with gains of up to 11% against the US dollar. What is the explanation?

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