In remarks to advanced finance students at the Catholic University of Uruguay, Central Bank of Uruguay President Guillermo Tolosa discussed how habits, experience and risk perceptions shape saving and investment decisions. He highlighted the central bank’s recently approved foreign exchange risk warning, clarifying that it does not predict currency movements but alerts savers that holding funds in a currency different from that of their expenses exposes them to exchange rate fluctuations. The measure aligns with the central bank’s broader efforts to reduce foreign currency risk and encourage informed financial decisions. Tolosa said savers should diversify across currencies and instruments according to their objectives, time horizons and liquidity needs rather than concentrate their funds in one asset. Financial choices should weigh potential returns against risk, liquidity and purchasing power, while recognizing that past performance does not guarantee future results and that exchange rates can move in either direction. He also urged future finance professionals to base public recommendations on evidence because advice on saving, investment and borrowing can influence household decisions.
2026-09-10Central Bank of Uruguay
Central Bank of Uruguay President Guillermo Tolosa explains foreign exchange risk warning and case for diversified savings
Central Bank of Uruguay President Guillermo Tolosa explained that the recently approved foreign exchange risk warning alerts savers to currency mismatches rather than predicting exchange rate movements. He urged individuals to diversify according to their objectives and assess returns alongside risk, time horizon, liquidity and purchasing power.