Last day, the US dollar traded at the close at 6.80 Bolivianos on average, representing an increase of 1.62% compared to 6.69 Bolivianos on average the previous day.
Compared to previous days, it stopped two sessions in a row with a flat trend. In reference to the volatility of the last week, it is manifestly higher than the numbers achieved for the last year (9.57%), which indicates that it is showing a more unstable behavior.
In the last year, the US dollar has reached a high of 6.82 Bolivianos on average, while its lowest level has been 6.65 Bolivianos on average. The US dollar is placed closer to its maximum than its low.
The Bolivian
Boliviano has been the legal tender of Bolivia since 1987 and is divided into 100 cents, formerly the Bolivian peso was used but it was replaced. The Central Bank of Bolivia is the body responsible for regulating the issuance of currency.
The coins of 10, 20 and 50 cents are currently in circulation, as well as 1, 2 and 5 Bolivianos. In 1988 a Bolivian was equivalent to one US dollar.
As for manufacturing, Bolivian currency stopped minting and printing during colonial times due to a lack of political interest, which would eventually result in coins and banknotes being created abroad because of the low cost that this implies. In 2013 they were still manufactured in countries such as the United Kingdom, France and Chile.
As for the economy, in 2014 Bolivia resorted to high public spending and growing domestic credit to maintain its growth, but these measures resulted in increased public debt and reduced international reserves.
As in other countries, the coronavirus pandemic severely affected Bolivia's economy, although inflation was not as high as in other Latin American nations, closing 2021 with 0.90 percent.
According to forecasts made this year by the World Bank, Bolivia will grow by only 3.7% by 2022, however, President Luis Arce has challenged these forecasts and assured that Gross Domestic Product (GDP) could grow by up to 6%.
Inaddition, the country closed 2021 with a trade surplus of $1.471 million, the first in the last six years, where annual negative balances were recorded in the balance. In addition to these conditions, unemployment has increased by 5.2 per cent.
Bolivia is also facing global efforts to move to clean energy, so these conditions will prompt one of the largest gas-exporting countries to seek alternatives.
Agencies
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